Adeia (ADEA) Set to Announce Earnings on Monday

Adeia (NASDAQ:ADEA) will be posting its quarterly earnings results after the market closes on Monday, November 6th. Analysts expect Adeia to post earnings of $0.24 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $83.22 million for the quarter, compared to analyst estimates of $84.17 million. Adeia had a negative net margin of 55.32% and a positive return on equity of 29.68%.

Adeia Price Performance

NASDAQ:ADEA opened at $8.27 on Monday. The firm has a market cap of $882.82 million, a price-to-earnings ratio of -2.95 and a beta of 1.19. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 1.83. The company’s 50-day moving average is $9.47 and its two-hundred day moving average is $9.82. Adeia has a 12-month low of $7.12 and a 12-month high of $12.37.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ADEA. BlackRock Inc. purchased a new position in Adeia in the first quarter valued at approximately $147,767,000. Dimensional Fund Advisors LP purchased a new stake in Adeia during the 1st quarter worth $32,577,000. Harvey Partners LLC acquired a new stake in Adeia in the 1st quarter valued at $26,580,000. Geode Capital Management LLC purchased a new position in Adeia in the first quarter valued at about $18,728,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Adeia during the first quarter worth about $10,766,000. 91.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stephens reduced their target price on shares of Adeia from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, October 3rd.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company worldwide. The company licenses its innovations to media and semiconductor industries and companies under the Adeia brand. It 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 and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, content storage devices, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices.