Adeia (NASDAQ:ADEA) Earns “Buy” Rating from BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by equities researchers at BWS Financial in a report issued on Wednesday, Benzinga reports. They currently have a $50.00 target price on the stock. BWS Financial’s price target would suggest a potential upside of 107.81% from the stock’s current price.

A number of other equities research analysts have also weighed in on ADEA. Weiss Ratings lowered Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Adeia in a report on Tuesday, September 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Adeia has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Adeia Price Performance

ADEA stock traded down $0.54 during trading on Wednesday, reaching $24.06. 273,308 shares of the company were exchanged, compared to its average volume of 1,382,918. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 22.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The company has a 50-day moving average of $26.42 and a two-hundred day moving average of $27.75. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. As a group, equities analysts predict that Adeia will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adeia

Several institutional investors and hedge funds have recently made changes to their positions in ADEA. Public Employees Retirement System of Ohio bought a new stake in Adeia in the second quarter worth approximately $34,000. Rockefeller Capital Management L.P. lifted its position in shares of Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after acquiring an additional 1,781 shares during the period. Allworth Financial LP bought a new position in Adeia during the second quarter worth $54,000. GHP Investment Advisors Inc. bought a new position in Adeia during the first quarter worth $58,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Adeia in the second quarter worth $117,000. 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.