Adeia's (ADEA) "Buy" Rating Reaffirmed at Rosenblatt Securities

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $18.00 price target on the stock. Rosenblatt Securities' price target would indicate a potential upside of 4.47% from the company's previous close.

Separately, BWS Financial reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Adeia in a report on Monday, January 13th.

Adeia Stock Performance

ADEA traded up $0.11 during trading hours on Tuesday, reaching $17.23. The company's stock had a trading volume of 1,423,108 shares, compared to its average volume of 568,456. Adeia has a 52 week low of $9.68 and a 52 week high of $17.46. The company's 50-day moving average is $13.58 and its 200-day moving average is $12.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.42 and a current ratio of 3.53. The firm has a market cap of $1.88 billion, a PE ratio of 30.23 and a beta of 1.37.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million for the quarter, compared to analysts' expectations of $114.22 million. During the same quarter in the prior year, the business earned $0.27 EPS. On average, equities analysts forecast that Adeia will post 1.09 EPS for the current year.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently modified their holdings of ADEA. Castlekeep Investment Advisors LLC bought a new stake in shares of Adeia during the 4th quarter worth $25,000. Ameriprise Financial Inc. lifted its position in shares of Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock worth $204,902,000 after buying an additional 874,098 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Adeia during the 3rd quarter worth $8,412,000. Intech Investment Management LLC lifted its position in shares of Adeia by 250.9% during the 4th quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after buying an additional 321,970 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company's stock worth $25,728,000 after buying an additional 313,741 shares during the last quarter. 97.36% of the stock is currently owned by 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.