Adeia (NASDAQ:ADEA) Given New $34.00 Price Target at Roth Mkm

Adeia (NASDAQ:ADEA) had its price target upped by Roth Mkm from $27.00 to $34.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 46.39% from the company’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. BWS Financial restated a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research report on Monday, March 9th. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. UBS Group set a $20.00 price target on shares of Adeia in a report on Tuesday, December 23rd. Finally, Wall Street Zen raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 7th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.80.

Adeia Price Performance

NASDAQ:ADEA traded up $0.44 on Monday, reaching $23.23. The stock had a trading volume of 487,634 shares, compared to its average volume of 991,821. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2.53 billion, a P/E ratio of 23.69 and a beta of 1.41. Adeia has a 1-year low of $10.59 and a 1-year high of $23.80. The stock has a fifty day moving average price of $19.41 and a 200-day moving average price of $16.66.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. Adeia had a net margin of 25.05% and a return on equity of 38.01%. Research analysts forecast that Adeia will post 1.09 EPS for the current year.

Institutional Investors Weigh In On Adeia

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in Adeia during the 3rd quarter worth $3,353,000. JPMorgan Chase & Co. increased its holdings in shares of Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after acquiring an additional 395,462 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in shares of Adeia during the second quarter worth about $1,874,000. Public Sector Pension Investment Board raised its position in shares of Adeia by 15.4% during the third quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after purchasing an additional 68,745 shares during the period. Finally, Skylands Capital LLC lifted its holdings in shares of Adeia by 17.5% during the 3rd quarter. Skylands Capital LLC now owns 497,300 shares of the company’s stock valued at $8,355,000 after purchasing an additional 74,076 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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.