Adeia (NASDAQ:ADEA) Rating Reiterated by BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by equities research analysts at BWS Financial in a research report issued on Thursday, Benzinga reports. They presently have a $16.00 price objective on the stock. BWS Financial’s price target points to a potential upside of 34.12% from the stock’s current price.

Separately, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Thursday, June 20th.

Adeia Stock Down 0.3 %

NASDAQ ADEA opened at $11.93 on Thursday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. The business has a fifty day moving average price of $11.68 and a 200 day moving average price of $11.22. The company has a market cap of $1.30 billion, a P/E ratio of 35.09 and a beta of 1.46. Adeia has a one year low of $8.11 and a one year high of $13.39.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $87.35 million during the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Research analysts anticipate that Adeia will post 1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Adeia

Large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Adeia in the 2nd quarter worth $47,000. EMC Capital Management grew its holdings in shares of Adeia by 27.8% during the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares in the last quarter. Algert Global LLC purchased a new position in shares of Adeia during the second quarter valued at $122,000. Aristides Capital LLC acquired a new stake in Adeia during the first quarter valued at $213,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Adeia by 35.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after purchasing an additional 5,316 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.