BWS Financial Reaffirms Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by equities researchers at BWS Financial in a research note issued on Monday,Benzinga reports. They presently have a $30.00 price objective on the stock. BWS Financial’s target price points to a potential upside of 38.29% from the stock’s previous close.

A number of other research firms also recently commented on ADEA. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Maxim Group boosted their target price on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Roth Mkm reaffirmed a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. UBS Group set a $20.00 price target on shares of Adeia in a research report on Tuesday, December 23rd. Finally, Wall Street Zen upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.20.

Adeia Trading Up 9.2%

NASDAQ ADEA traded up $1.82 during trading hours on Monday, hitting $21.69. The company’s stock had a trading volume of 1,645,435 shares, compared to its average volume of 931,049. Adeia has a twelve month low of $10.59 and a twelve month high of $21.96. The firm has a market capitalization of $2.37 billion, a P/E ratio of 22.14 and a beta of 1.41. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average of $18.86 and a 200 day moving average of $16.39.

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

Hedge Funds Weigh In On Adeia

Several institutional investors have recently modified their holdings of ADEA. ProShare Advisors LLC increased its stake in Adeia by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock worth $365,000 after purchasing an additional 656 shares in the last quarter. Redmond Asset Management LLC lifted its stake in Adeia by 0.4% in the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after buying an additional 727 shares in the last quarter. Amundi boosted its holdings in shares of Adeia by 4.5% in the fourth quarter. Amundi now owns 19,003 shares of the company’s stock valued at $328,000 after buying an additional 827 shares during the period. Vident Advisory LLC increased its position in shares of Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after acquiring an additional 937 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in shares of Adeia by 3.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company’s stock worth $536,000 after acquiring an additional 971 shares during the period. 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.