Rosenblatt Securities Reiterates Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued on Friday,Benzinga reports. They currently have a $20.00 target price on the stock. Rosenblatt Securities’ price target suggests a potential upside of 27.15% from the stock’s current price.

A number of other analysts have also commented on the company. Maxim Group lifted their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. BWS Financial lifted their price objective on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA stock opened at $15.73 on Friday. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 27.60 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. Adeia has a one year low of $9.68 and a one year high of $17.46. The company’s 50-day moving average is $13.71 and its 200 day moving average is $12.77.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. Sell-side analysts expect that Adeia will post 1.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Adeia

A number of large investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Adeia in the 4th quarter worth $2,370,000. Castlekeep Investment Advisors LLC purchased a new stake in Adeia in the fourth quarter worth about $1,775,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Adeia by 27.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,503 shares of the company’s stock worth $2,635,000 after buying an additional 41,017 shares during the period. Vident Advisory LLC lifted its position in shares of Adeia by 6.8% during the 4th quarter. Vident Advisory LLC now owns 43,776 shares of the company’s stock valued at $612,000 after buying an additional 2,786 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of Adeia by 5.4% during the 4th quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company’s stock valued at $31,822,000 after acquiring an additional 116,087 shares during the period. 97.36% of the stock is currently owned by institutional investors.

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.