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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock. Rosenblatt Securities’ price objective points to a potential upside of 63.83% from the company’s previous close.

Several other research analysts have also commented on ADEA. UBS Group set a $20.00 price objective on Adeia in a report on Tuesday, December 23rd. BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Monday, March 9th. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Roth Mkm increased their target price on Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.80.

Adeia Stock Performance

Shares of Adeia stock opened at $24.42 on Thursday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 24.91 and a beta of 1.29. The business has a 50-day simple moving average of $20.75 and a 200 day simple moving average of $17.44. Adeia has a one year low of $10.59 and a one year high of $26.09. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

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

Hedge Funds Weigh In On Adeia

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. increased its holdings in shares of Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the last quarter. Quarry LP increased its holdings in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the period. IFP Advisors Inc purchased a new position in Adeia during the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. lifted its stake in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the period. Finally, CWM LLC increased its stake in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after acquiring an additional 1,988 shares during the period. 97.36% of the stock is owned by institutional investors.

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.