Rosenblatt Securities Forecasts Strong Price Appreciation for Adeia (NASDAQ:ADEA) Stock

Adeia (NASDAQ:ADEAGet Free Report) had its price objective increased by analysts at Rosenblatt Securities from $20.00 to $30.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 56.63% from the company’s previous close.

ADEA has been the subject of a number of other reports. BWS Financial boosted their price objective on Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 29th. Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Roth Mkm restated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. UBS Group set a $20.00 price objective on Adeia in a research report on Tuesday, December 23rd. Finally, Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.00.

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Adeia Stock Performance

ADEA traded up $0.67 during trading on Tuesday, hitting $19.15. The company’s stock had a trading volume of 379,489 shares, compared to its average volume of 808,257. The business’s 50 day simple moving average is $17.93 and its 200-day simple moving average is $16.03. The firm has a market cap of $2.10 billion, a PE ratio of 28.99 and a beta of 1.44. Adeia has a one year low of $10.59 and a one year 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 large investors have recently added to or reduced their stakes in ADEA. Wellington Management Group LLP grew its holdings in shares of Adeia by 64.5% in the fourth quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock valued at $34,474,000 after purchasing an additional 783,869 shares in the last quarter. Systematic Financial Management LP increased its position in Adeia by 27.9% in the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after purchasing an additional 630,039 shares during the last quarter. Deutsche Bank AG raised its stake in Adeia by 386.1% during the fourth quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock valued at $12,642,000 after purchasing an additional 582,106 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after purchasing an additional 448,274 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after acquiring an additional 395,462 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Key Adeia News

Here are the key news stories impacting Adeia this week:

About Adeia

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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.

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