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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a report issued on Wednesday, Benzinga reports. They currently have a $50.00 price objective on the stock. BWS Financial’s price target points to a potential upside of 108.07% from the stock’s previous close.

Several other research firms also recently issued reports on ADEA. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 29th. Zacks Research raised shares of Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.60.

Adeia Stock Down 2.3%

Adeia stock traded down $0.57 during trading on Wednesday, reaching $24.03. 294,694 shares of the company’s stock were exchanged, compared to its average volume of 1,383,062. The company’s 50-day moving average is $26.42 and its two-hundred day moving average is $27.75. 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 has a 52-week low of $11.61 and a 52-week high of $34.34. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 22.25 and a beta of 1.35.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $96.12 million for the quarter, compared to the consensus estimate of $96.79 million. On average, analysts predict that Adeia will post 1.17 earnings per share for the current year.

Institutional Investors Weigh In On Adeia

A number of large investors have recently made changes to their positions in ADEA. BlackRock Inc. purchased a new stake in shares of Adeia in the 2nd quarter valued at approximately $573,267,000. Wellington Management Group LLP lifted its position in shares of Adeia by 4.6% in the 2nd quarter. Wellington Management Group LLP now owns 1,712,143 shares of the company’s stock valued at $56,381,000 after acquiring an additional 75,520 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Adeia in the 2nd quarter valued at approximately $46,004,000. Deutsche Bank AG purchased a new stake in shares of Adeia in the 2nd quarter valued at approximately $34,520,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Adeia during the 2nd quarter valued at $34,425,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.