Rosenblatt Securities Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its price objective increased by stock analysts at Rosenblatt Securities from $17.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 19.80% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a research note on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Adeia in a report on Monday, December 15th. Finally, BWS Financial reissued a “buy” rating and issued a $18.00 price target on shares of Adeia in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.25.

Adeia Price Performance

Adeia stock traded up $3.93 during trading hours on Monday, hitting $16.70. The stock had a trading volume of 2,434,810 shares, compared to its average volume of 636,801. Adeia has a 1-year low of $10.59 and a 1-year high of $18.25. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.74 and a beta of 1.51. The stock’s fifty day moving average is $14.11 and its two-hundred day moving average is $14.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $87.34 million during the quarter, compared to analysts’ expectations of $99.24 million. Adeia had a return on equity of 29.36% and a net margin of 19.32%. As a group, analysts predict that Adeia will post 1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP raised its stake in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares during the period. IFP Advisors Inc acquired a new stake in Adeia in the 3rd quarter valued at $28,000. Osaic Holdings Inc. raised its position in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the period. CWM LLC lifted its stake in shares of Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Adeia in the first quarter worth about $43,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.