Adeia (NASDAQ:ADEA) Downgraded by Zacks Research to “Hold”

Adeia (NASDAQ:ADEA) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Roth Mkm reiterated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Maxim Group boosted their price objective on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. BWS Financial increased their target price on Adeia from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday. Rosenblatt Securities lifted their target price on Adeia from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Adeia currently has an average rating of “Moderate Buy” and an average target price of $25.20.

Adeia Trading Down 0.8%

NASDAQ ADEA opened at $20.69 on Thursday. Adeia has a 12 month low of $10.59 and a 12 month high of $21.07. The company has a current ratio of 3.81, a quick ratio of 3.72 and a debt-to-equity ratio of 0.83. The stock’s fifty day moving average price is $18.53 and its 200-day moving average price is $16.18. The stock has a market cap of $2.27 billion, a P/E ratio of 21.11 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The company had revenue of $182.64 million for the quarter, compared to analysts’ expectations of $168.45 million. As a group, equities analysts forecast that Adeia will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. grew 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 valued at $25,000 after purchasing an additional 1,180 shares during the period. Quarry LP grew its position in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in Adeia during the third quarter valued at approximately $28,000. Osaic Holdings Inc. increased its holdings in Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares during the last quarter. Finally, CWM LLC raised its position in Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after acquiring an additional 1,988 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.