Adeia (NASDAQ:ADEA) Reaches New 52-Week High – Time to Buy?

Adeia Inc. (NASDAQ:ADEA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.60 and last traded at $13.60, with a volume of 99751 shares trading hands. The stock had previously closed at $12.79.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADEA shares. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a research note on Thursday, October 31st. BWS Financial reissued a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Thursday, September 26th.

Adeia Stock Up 0.3 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00 and a quick ratio of 3.00. The stock has a market capitalization of $1.53 billion, a P/E ratio of 35.23 and a beta of 1.44. The stock has a fifty day moving average price of $12.15 and a 200 day moving average price of $11.55.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (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%. On average, research analysts forecast that Adeia Inc. will post 1.18 earnings per share for the current year.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in Adeia in the second quarter worth about $47,000. EMC Capital Management grew its stake in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after acquiring an additional 2,360 shares during the period. Algert Global LLC purchased a new stake in Adeia during the 2nd quarter valued at $122,000. Seizert Capital Partners LLC purchased a new position in shares of Adeia in the third quarter worth approximately $197,000. Finally, Aristides Capital LLC purchased a new position in Adeia during the first quarter valued at $213,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

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.