Adeia Inc. (NASDAQ:ADEA) Sees Significant Decrease in Short Interest

Adeia Inc. (NASDAQ:ADEA) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 3,799,473 shares, a decrease of 14.4% from the January 15th total of 4,437,935 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 837,649 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily trading volume, of 837,649 shares, the days-to-cover ratio is currently 4.5 days. Approximately 3.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADEA. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. UBS Group set a $20.00 price target on shares of Adeia in a research report on Tuesday, December 23rd. Maxim Group increased their price objective on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Rosenblatt Securities lifted their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Roth Mkm reiterated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $22.00.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $18.53 on Thursday. The company has a market cap of $2.03 billion, a P/E ratio of 28.51 and a beta of 1.44. Adeia has a 52-week low of $10.59 and a 52-week high of $20.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 3.72. The firm’s fifty day moving average is $17.60 and its two-hundred day moving average is $15.89.

Institutional Trading of Adeia

Large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its holdings in shares of Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after purchasing an additional 656 shares in the last quarter. Redmond Asset Management LLC grew its stake in shares of Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after buying an additional 727 shares in the last quarter. Amundi grew its stake in shares of Adeia by 4.5% in the 4th quarter. Amundi now owns 19,003 shares of the company’s stock worth $328,000 after buying an additional 827 shares in the last quarter. Vident Advisory LLC raised its position in shares of Adeia by 2.6% during the 2nd quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after buying an additional 937 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Adeia by 3.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company’s stock worth $536,000 after acquiring an additional 971 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.