Adeia (NASDAQ:ADEA) Raised to “Strong-Buy” at Zacks Research

Adeia (NASDAQ:ADEA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other brokerages also recently commented on ADEA. BWS Financial restated a “buy” rating and issued a $30.00 target price on shares of Adeia in a research note on Monday, March 9th. Roth Mkm lifted their price target on Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price target on shares of Adeia in a research note on Thursday, April 2nd. Wall Street Zen downgraded Adeia from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, Adeia has a consensus rating of “Buy” and a consensus target price of $28.80.

Adeia Trading Up 1.3%

Shares of ADEA stock traded up $0.38 during mid-day trading on Monday, hitting $30.61. The company’s stock had a trading volume of 58,107 shares, compared to its average volume of 1,056,240. The company’s fifty day simple moving average is $24.29 and its 200-day simple moving average is $18.95. Adeia has a 52 week low of $11.61 and a 52 week high of $30.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81. The company has a market cap of $3.39 billion, a PE ratio of 31.23 and a beta of 1.30.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The firm had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. As a group, equities research analysts expect that Adeia will post 1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. boosted its stake in shares of Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Adeia during the 3rd quarter valued at $28,000. Quarry LP raised its position in shares of Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Adeia during the 1st quarter valued at $58,000. Finally, CWM LLC raised its position in shares of Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

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.