Adeia (NASDAQ:ADEA) Given Buy Rating at BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by analysts at BWS Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $50.00 target price on the stock. BWS Financial’s target price suggests a potential upside of 108.26% from the stock’s previous close.

Several other research analysts have also recently issued reports on ADEA. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a research report on Tuesday, September 29th. Finally, Weiss Ratings cut Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.60.

Adeia Stock Performance

Shares of Adeia stock traded down $0.59 during trading on Wednesday, hitting $24.01. 309,435 shares of the company’s stock traded hands, compared to its average volume of 1,383,254. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. Adeia has a 1 year low of $11.61 and a 1 year high of $34.34. The stock has a market capitalization of $2.65 billion, a P/E ratio of 22.25 and a beta of 1.35. The business has a 50-day simple moving average of $26.42 and a 200-day simple moving average of $27.75.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The company had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $96.79 million. As a group, analysts forecast that Adeia will post 1.17 EPS for the current year.

Institutional Trading of Adeia

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Adeia during the second quarter worth $573,267,000. Wellington Management Group LLP boosted its holdings in Adeia by 4.6% in the second quarter. Wellington Management Group LLP now owns 1,712,143 shares of the company’s stock valued at $56,381,000 after purchasing an additional 75,520 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Adeia in the second quarter valued at $46,004,000. Deutsche Bank AG purchased a new position in Adeia in the second quarter valued at $34,520,000. Finally, Bank of New York Mellon Corp purchased a new position in Adeia in the second quarter valued at $34,425,000. Institutional investors 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.