Adeia (NASDAQ:ADEA) Stock Rating Reaffirmed by BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by equities researchers at BWS Financial in a note issued to investors on Friday, Benzinga reports. They currently have a $16.00 target price on the stock. BWS Financial’s price target indicates a potential upside of 60.97% from the company’s previous close.

Separately, Rosenblatt Securities initiated coverage on shares of Adeia in a research report on Friday, February 23rd. They issued a “buy” rating and a $15.00 target price on the stock.

Adeia Trading Up 2.2 %

Shares of ADEA stock opened at $9.94 on Friday. The company’s 50-day moving average price is $11.04 and its 200-day moving average price is $10.65. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 16.85 and a beta of 1.43. Adeia has a twelve month low of $7.12 and a twelve month high of $13.39.

Adeia (NASDAQ:ADEA) last posted its earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Adeia had a net margin of 17.33% and a return on equity of 42.74%. The company had revenue of $86.87 million for the quarter, compared to analysts’ expectations of $89.23 million. As a group, equities analysts predict that Adeia will post 1.18 earnings per share for the current year.

Institutional Trading of Adeia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. increased its stake in Adeia by 0.9% during the second quarter. Alliancebernstein L.P. now owns 124,106 shares of the company’s stock worth $1,366,000 after purchasing an additional 1,056 shares during the period. Parkside Financial Bank & Trust increased its stake in Adeia by 55.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock worth $45,000 after purchasing an additional 1,291 shares during the period. Highlander Capital Management LLC increased its stake in Adeia by 267.3% during the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after purchasing an additional 1,518 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in Adeia by 5.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 33,842 shares of the company’s stock worth $373,000 after purchasing an additional 1,760 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in Adeia by 0.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 438,048 shares of the company’s stock worth $4,678,000 after purchasing an additional 2,227 shares during the period. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

About Adeia

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.