Zacks Research Downgrades Adeia (NASDAQ:ADEA) to Hold

Adeia (NASDAQ:ADEA) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on ADEA. Maxim Group set a $35.00 price target on Adeia in a research note on Wednesday, May 6th. Roth Mkm restated a “buy” rating and issued a $43.00 price target on shares of Adeia in a research note on Tuesday, May 5th. BWS Financial restated a “buy” rating and issued a $30.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.60.

Adeia Price Performance

ADEA stock opened at $28.25 on Tuesday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The business has a 50 day moving average price of $27.36 and a two-hundred day moving average price of $20.64. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 26.16 and a beta of 1.48. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. Analysts anticipate that Adeia will post 1.15 EPS for the current fiscal year.

Institutional Trading of Adeia

Hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the last quarter. Quarry LP lifted its holdings in Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares during the last quarter. IFP Advisors Inc acquired a new stake in Adeia during the 3rd quarter worth approximately $28,000. 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 purchasing an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after purchasing an additional 1,781 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.