Adeia's (ADEA) Buy Rating Reiterated at Rosenblatt Securities

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. Rosenblatt Securities' price target would suggest a potential upside of 20.68% from the stock's previous close.

Separately, BWS Financial restated a "buy" rating and set a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th.

Adeia Stock Performance

NASDAQ:ADEA traded down $0.25 during mid-day trading on Thursday, reaching $12.43. 390,856 shares of the company's stock were exchanged, compared to its average volume of 472,419. The firm has a market capitalization of $1.35 billion, a PE ratio of 31.70 and a beta of 1.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. Adeia has a one year low of $8.28 and a one year high of $13.39. The business's fifty day simple moving average is $12.04 and its two-hundred day simple moving average is $11.44.

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

Institutional Investors Weigh In On Adeia

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC grew its position in Adeia by 0.9% during 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 acquiring an additional 875 shares during the last quarter. Gallacher Capital Management LLC grew its stake in shares of Adeia by 5.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company's stock valued at $266,000 after acquiring an additional 1,186 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Adeia by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company's stock valued at $1,024,000 after acquiring an additional 1,215 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Adeia by 2.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company's stock worth $687,000 after purchasing an additional 1,420 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Adeia by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company's stock worth $236,000 after purchasing an additional 1,483 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.