BWS Financial Reiterates Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by stock analysts at BWS Financial in a research report issued on Tuesday,Benzinga reports. They presently have a $18.00 price objective on the stock. BWS Financial’s target price points to a potential upside of 49.99% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Adeia in a report on Friday, February 28th. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Adeia Price Performance

Shares of Adeia stock traded up $0.15 during trading hours on Tuesday, reaching $12.00. The stock had a trading volume of 37,211 shares, compared to its average volume of 530,823. Adeia has a twelve month low of $9.68 and a twelve month high of $17.46. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.30 billion, a PE ratio of 21.06 and a beta of 1.47. The stock’s 50 day moving average is $13.81 and its 200 day moving average is $13.15.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the prior year, the business posted $0.27 earnings per share. Equities analysts expect that Adeia will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adeia

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Summit Global Investments lifted its stake in Adeia by 1.9% in the 1st quarter. Summit Global Investments now owns 50,475 shares of the company’s stock worth $667,000 after purchasing an additional 931 shares in the last quarter. Picton Mahoney Asset Management boosted its stake in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after buying an additional 972 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Adeia by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock worth $272,000 after acquiring an additional 989 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Adeia by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock worth $48,000 after acquiring an additional 1,611 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of Adeia by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 64,990 shares of the company’s stock valued at $909,000 after acquiring an additional 1,804 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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.