Adeia (NASDAQ:ADEA) Sets New 1-Year High - Time to Buy?

Adeia Inc. (NASDAQ:ADEA - Get Free Report) hit 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.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ADEA shares. BWS Financial reissued a "buy" rating and set a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th. Rosenblatt Securities reiterated a "buy" rating and set a $15.00 price objective on shares of Adeia in a research report on Thursday, October 31st.

Adeia Price Performance

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 company has a market capitalization of $1.53 billion, a P/E ratio of 31.98 and a beta of 1.44. The firm's 50-day moving average is $12.08 and its 200-day moving average is $11.52.

Adeia (NASDAQ:ADEA - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Analysts predict that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Adeia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADEA. Innealta Capital LLC bought a new position in shares of Adeia in the second quarter worth about $47,000. EMC Capital Management grew its holdings in Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company's stock valued at $119,000 after buying an additional 2,360 shares in the last quarter. Algert Global LLC bought a new stake in shares of Adeia during the second quarter valued at approximately $122,000. Aristides Capital LLC purchased a new position in shares of Adeia in the first quarter worth $213,000. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Adeia by 35.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company's stock worth $224,000 after acquiring an additional 5,316 shares during the last quarter. 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.