Adeia’s (ADEA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note issued to investors on Friday,Benzinga reports. Rosenblatt Securities currently has a $15.00 price objective on the stock.

Separately, BWS Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Adeia in a research note on Thursday, September 26th.

Adeia Stock Down 18.2 %

NASDAQ:ADEA traded down $2.57 on Friday, hitting $11.52. The stock had a trading volume of 1,125,852 shares, compared to its average volume of 477,499. Adeia has a 52 week low of $8.94 and a 52 week high of $14.24. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The business’s fifty day moving average is $12.13 and its 200 day moving average is $11.57. The company has a market cap of $1.25 billion, a PE ratio of 28.80 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $87.35 million during the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. On average, equities research analysts expect that Adeia will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADEA. Innealta Capital LLC bought a new position in shares of Adeia in the 2nd quarter worth approximately $47,000. EMC Capital Management boosted its stake in Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares during the last quarter. Algert Global LLC purchased a new stake in Adeia during the 2nd quarter valued at $122,000. Seizert Capital Partners LLC purchased a new stake in Adeia during the 3rd quarter valued at $197,000. Finally, Aristides Capital LLC purchased a new position in shares of Adeia in the 1st quarter worth $213,000. Institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.