Adeia (NASDAQ:ADEA) Earns “Buy” Rating from BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by equities research analysts at BWS Financial in a research report issued on Wednesday, Benzinga reports. They currently have a $50.00 target price on the stock. BWS Financial’s target price would indicate a potential upside of 109.29% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Zacks Research raised shares of Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, September 29th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.60.

Adeia Price Performance

Shares of NASDAQ ADEA traded down $0.22 during trading on Wednesday, hitting $23.89. The company had a trading volume of 685,376 shares, compared to its average volume of 1,383,234. The company has a market cap of $2.63 billion, a P/E ratio of 22.12 and a beta of 1.35. Adeia has a 52 week low of $11.61 and a 52 week high of $34.34. The business’s 50-day moving average is $26.42 and its 200 day moving average is $27.76. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The company had revenue of $96.12 million for the quarter, compared to the consensus estimate of $96.79 million. Equities research analysts predict that Adeia will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Adeia in the second quarter valued at approximately $34,000. Allworth Financial LP acquired a new position in shares of Adeia in the 2nd quarter worth approximately $54,000. Farther Finance Advisors LLC boosted its holdings in shares of Adeia by 66.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,083 shares of the company’s stock worth $53,000 after acquiring an additional 829 shares in the last quarter. GHP Investment Advisors Inc. acquired a new position in shares of Adeia in the 1st quarter worth approximately $58,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after acquiring an additional 1,781 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company’s technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.