Adeia (NASDAQ:ADEA) Given “Buy” Rating at Rosenblatt Securities

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $17.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 18.88% from the stock’s current price.

Other research analysts have also issued reports about the stock. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. BWS Financial restated a “buy” rating and issued a $18.00 target price on shares of Adeia in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Adeia in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Adeia in a report on Monday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.50.

Adeia Price Performance

ADEA opened at $14.30 on Tuesday. The firm has a 50-day moving average price of $16.33 and a 200-day moving average price of $14.54. Adeia has a twelve month low of $10.59 and a twelve month high of $18.25. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 19.32 and a beta of 1.74.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Riverwater Partners LLC purchased a new stake in shares of Adeia in the 3rd quarter worth $2,307,000. Teacher Retirement System of Texas increased its position in Adeia by 33.4% in the third quarter. Teacher Retirement System of Texas now owns 55,092 shares of the company’s stock worth $926,000 after buying an additional 13,809 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Adeia by 5.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 181,998 shares of the company’s stock worth $3,058,000 after buying an additional 9,457 shares during the period. NorthCrest Asset Manangement LLC lifted its position in shares of Adeia by 55.3% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,891 shares of the company’s stock valued at $272,000 after buying an additional 5,658 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Adeia during the 3rd quarter valued at about $56,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

About Adeia

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.