Adeia (NASDAQ:ADEA) Earns “Buy” Rating from BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by BWS Financial in a report released on Monday,Benzinga reports. They currently have a $16.00 price objective on the stock. BWS Financial’s price target suggests a potential upside of 33.00% from the stock’s current price.

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Adeia in a research note on Friday.

Adeia Price Performance

Shares of Adeia stock traded up $0.51 during trading on Monday, hitting $12.03. 195,217 shares of the company were exchanged, compared to its average volume of 476,139. The firm has a 50 day moving average price of $12.13 and a 200 day moving average price of $11.58. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 33.31 and a beta of 1.44. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. Adeia has a fifty-two week low of $9.00 and a fifty-two week high of $14.24.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in Adeia during the second quarter worth approximately $47,000. EMC Capital Management raised its position in shares of Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after buying an additional 2,360 shares during the period. Algert Global LLC acquired a new position in Adeia in the second quarter valued at $122,000. Seizert Capital Partners LLC purchased a new stake in Adeia during the third quarter valued at about $197,000. Finally, Aristides Capital LLC acquired a new stake in Adeia during the first quarter worth about $213,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.