Adeia Inc. (NASDAQ:ADEA) Receives $22.00 Average Target Price from Brokerages

Adeia Inc. (NASDAQ:ADEA) has earned a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $22.00.

Several equities research analysts have recently commented on ADEA shares. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Roth Mkm restated a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. UBS Group set a $20.00 target price on Adeia in a research report on Tuesday, December 23rd. Finally, Maxim Group raised their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd.

Adeia Stock Performance

Shares of ADEA stock opened at $18.10 on Friday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 27.85 and a beta of 1.44. The stock has a fifty day moving average of $16.61 and a 200 day moving average of $15.59. Adeia has a 52 week low of $10.59 and a 52 week high of $20.33. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.01.

Institutional Trading of Adeia

A number of hedge funds have recently modified their holdings of ADEA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Adeia by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after buying an additional 2,829 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Adeia in the 1st quarter worth about $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Adeia by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after purchasing an additional 42,918 shares in the last quarter. Jane Street Group LLC boosted its stake in Adeia by 1,193.2% in the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after purchasing an additional 321,976 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Adeia during the 1st quarter valued at about $167,000. Institutional investors own 97.36% of the company’s stock.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.