Adeia (NASDAQ:ADEA) Price Target Raised to $17.00 at Maxim Group

Adeia (NASDAQ:ADEA - Get Free Report) had its target price lifted by equities researchers at Maxim Group from $15.00 to $17.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Maxim Group's price target indicates a potential downside of 1.33% from the stock's previous close.

A number of other equities analysts also recently issued reports on ADEA. BWS Financial lifted their price target on Adeia from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday. Rosenblatt Securities reiterated a "buy" rating and set a $18.00 price target on shares of Adeia in a research note on Tuesday.

Adeia Stock Up 0.6 %

Shares of ADEA traded up $0.11 during trading hours on Wednesday, hitting $17.23. The stock had a trading volume of 1,423,108 shares, compared to its average volume of 568,456. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.42. The firm has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $12.58. The firm has a market capitalization of $1.88 billion, a P/E ratio of 30.23 and a beta of 1.37. Adeia has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period last year, the business posted $0.27 EPS. Sell-side analysts predict that Adeia will post 1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Adeia

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Castlekeep Investment Advisors LLC bought a new stake in shares of Adeia in the 4th quarter worth approximately $25,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Adeia in the 4th quarter worth approximately $33,000. Picton Mahoney Asset Management raised its holdings in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after purchasing an additional 972 shares during the period. KBC Group NV raised its holdings in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock valued at $97,000 after acquiring an additional 2,977 shares during the period. Finally, Linden Thomas Advisory Services LLC bought a new stake in Adeia during the 4th quarter valued at $142,000. 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.