Adeia Inc. (NASDAQ:ADEA) Receives $19.50 Consensus Price Target from Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.50.

A number of equities research analysts recently commented on the company. BWS Financial restated a “buy” rating and set a $18.00 price target on shares of Adeia in a research report on Monday, October 6th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Adeia in a report on Wednesday, October 8th.

Adeia Stock Down 0.5%

NASDAQ ADEA opened at $17.04 on Wednesday. The firm has a market cap of $1.86 billion, a PE ratio of 23.03 and a beta of 1.74. Adeia has a one year low of $10.59 and a one year high of $18.25. The stock’s 50 day simple moving average is $16.35 and its 200 day simple moving average is $14.49. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADEA. Quarry LP acquired a new position in Adeia during the 1st quarter worth $29,000. Osaic Holdings Inc. lifted its holdings in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after buying an additional 2,309 shares in the last quarter. CWM LLC lifted its holdings in Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after buying an additional 1,988 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Adeia in the 1st quarter valued at $43,000. Finally, Brooklyn Investment Group acquired a new position in shares of Adeia in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.