Adeia’s (ADEA) Buy Rating Reiterated at BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by analysts at BWS Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the stock. BWS Financial’s price objective would indicate a potential upside of 112.22% from the stock’s previous close.

Several other research firms have also commented on ADEA. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday, September 29th. Weiss Ratings lowered Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Finally, Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Adeia Trading Down 1.4%

Shares of Adeia stock traded down $0.33 during mid-day trading on Wednesday, hitting $23.56. 134,551 shares of the stock were exchanged, compared to its average volume of 1,376,689. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 21.81 and a beta of 1.35. 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 has a twelve month low of $11.61 and a twelve month high of $34.34. The company has a 50-day simple moving average of $26.36 and a 200 day simple moving average of $27.76.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew 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 during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Adeia in the 2nd quarter worth about $458,000. NewEdge Advisors LLC increased its stake in Adeia by 29.2% in the 2nd quarter. NewEdge Advisors LLC now owns 30,258 shares of the company’s stock worth $996,000 after purchasing an additional 6,832 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Adeia during the second quarter valued at about $3,028,000. Finally, Nykredit A S purchased a new position in shares of Adeia in the second quarter worth approximately $126,000. Institutional investors and hedge funds 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.