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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $15.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 30.21% from the stock’s previous close.

Separately, BWS Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Adeia in a research note on Thursday, September 26th.

Adeia Trading Down 18.2 %

Shares of ADEA traded down $2.57 during mid-day trading on Friday, reaching $11.52. 1,125,721 shares of the company’s stock traded hands, compared to its average volume of 477,498. The stock has a market cap of $1.25 billion, a P/E ratio of 28.80 and a beta of 1.44. The stock’s 50-day moving average is $12.15 and its two-hundred day moving average is $11.55. Adeia has a 12 month low of $8.94 and a 12 month high of $14.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00 and a quick ratio of 3.00.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Research analysts forecast that Adeia will post 1.18 earnings per share for the current fiscal year.

Institutional Trading of Adeia

A number of large investors have recently modified their holdings of the company. Wedge Capital Management L L P NC boosted its holdings in shares of Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock valued at $1,129,000 after purchasing an additional 875 shares during the period. Gallacher Capital Management LLC boosted its holdings in shares of Adeia by 5.2% in the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after purchasing an additional 1,186 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Adeia by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,215 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Adeia by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock valued at $687,000 after purchasing an additional 1,420 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after purchasing an additional 1,483 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

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.