Adeia (NASDAQ:ADEA) Stock Rating Reaffirmed as “Buy” by BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by investment analysts at BWS Financial in a report released on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the stock. BWS Financial’s price target indicates a potential upside of 105.85% from the stock’s current price.

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

Adeia Trading Down 1.3%

Shares of NASDAQ ADEA traded down $0.31 during mid-day trading on Wednesday, reaching $24.29. The company had a trading volume of 448,565 shares, compared to its average volume of 1,383,954. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 22.47 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 $27.75. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADEA. Public Employees Retirement System of Ohio purchased a new position in shares of Adeia in the 2nd quarter valued at approximately $34,000. Rockefeller Capital Management L.P. increased its stake in Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after purchasing an additional 1,781 shares in the last quarter. Allworth Financial LP acquired a new position in Adeia during the 2nd quarter valued at approximately $54,000. GHP Investment Advisors Inc. purchased a new position in shares of Adeia in the first quarter worth $58,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Adeia during the second quarter worth $117,000. Institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

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.