Maxim Group Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its price objective increased by analysts at Maxim Group from $15.00 to $17.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price objective indicates a potential upside of 3.96% from the company’s current price.

A number of other analysts also recently issued reports on ADEA. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Tuesday. BWS Financial raised their price objective on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday.

Adeia Trading Up 21.4 %

Shares of ADEA traded up $2.88 during midday trading on Wednesday, reaching $16.35. The company had a trading volume of 1,359,207 shares, compared to its average volume of 468,944. Adeia has a 1-year low of $9.68 and a 1-year high of $17.27. The stock has a market cap of $1.79 billion, a PE ratio of 45.58 and a beta of 1.37. The firm has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $12.50. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 28.37% and a net margin of 12.01%. During the same period last year, the company earned $0.27 EPS. Research analysts forecast that Adeia will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Adeia

Several institutional investors have recently bought and sold shares of the company. Castlekeep Investment Advisors LLC purchased a new position in shares of Adeia in the 4th quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Adeia in the fourth quarter valued at approximately $33,000. Picton Mahoney Asset Management boosted its holdings in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the period. KBC Group NV boosted its holdings in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares during the period. Finally, Linden Thomas Advisory Services LLC acquired a new stake in shares of Adeia in the fourth quarter valued at approximately $142,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Company Profile

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.