Adeia (NASDAQ:ADEA) Earns “Buy” Rating from Rosenblatt Securities

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They presently have a $40.00 price objective on the stock. Rosenblatt Securities’ target price suggests a potential upside of 57.92% from the stock’s previous close.

ADEA has been the topic of a number of other reports. BWS Financial boosted their target price on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Adeia presently has a consensus rating of “Moderate Buy” and an average price target of $37.60.

Adeia Trading Down 1.6%

Adeia stock opened at $25.33 on Tuesday. The firm’s 50-day moving average is $26.43 and its 200-day moving average is $27.72. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Adeia has a 1 year low of $11.61 and a 1 year high of $34.34. The company has a market cap of $2.79 billion, a P/E ratio of 23.45 and a beta of 1.35.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. On average, equities analysts expect that Adeia will post 1.17 earnings per share for the current year.

Hedge Funds Weigh In On Adeia

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Adeia during the second quarter worth $573,267,000. Wellington Management Group LLP lifted its stake in Adeia by 4.6% during the second quarter. Wellington Management Group LLP now owns 1,712,143 shares of the company’s stock worth $56,381,000 after purchasing an additional 75,520 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Adeia during the second quarter worth $46,004,000. Deutsche Bank AG bought a new stake in shares of Adeia during the second quarter worth $34,520,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Adeia during the second quarter worth $34,425,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company’s technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.