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

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

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

Adeia Trading Down 0.3 %

Shares of ADEA opened at $11.93 on Thursday. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 35.09 and a beta of 1.46. The stock’s 50-day moving average price is $11.68 and its 200 day moving average price is $11.22.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. As a group, research analysts predict that Adeia will post 1.18 earnings per share for the current year.

Institutional Trading of Adeia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Adeia during the second quarter worth $47,000. EMC Capital Management increased its position in shares of Adeia by 27.8% during the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after acquiring an additional 2,360 shares in the last quarter. Algert Global LLC bought a new stake in shares of Adeia during the second quarter worth about $122,000. Aristides Capital LLC bought a new stake in Adeia in the 1st quarter worth about $213,000. Finally, O Shaughnessy Asset Management LLC grew its position in Adeia by 35.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock worth $224,000 after purchasing an additional 5,316 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

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.