Adeia’s (ADEA) Buy Rating Reaffirmed at BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by analysts at BWS Financial in a report released on Friday, Benzinga reports. They presently have a $16.00 target price on the stock. BWS Financial’s price target indicates a potential upside of 60.97% from the stock’s previous close.

Separately, Rosenblatt Securities initiated coverage on Adeia in a report on Friday, February 23rd. They set a “buy” rating and a $15.00 price objective on the stock.

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $9.94 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.02 and a current ratio of 2.02. Adeia has a one year low of $7.12 and a one year high of $13.39. The business’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $10.65. The company has a market cap of $1.08 billion, a P/E ratio of 16.85 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The company had revenue of $86.87 million for the quarter, compared to the consensus estimate of $89.23 million. On average, sell-side analysts forecast that Adeia will post 1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently made changes to their positions in ADEA. Royce & Associates LP increased its holdings in shares of Adeia by 22.6% in the 1st quarter. Royce & Associates LP now owns 1,052,203 shares of the company’s stock valued at $9,323,000 after acquiring an additional 194,187 shares during the last quarter. Swiss National Bank acquired a new position in Adeia during the 1st quarter valued at approximately $2,009,000. Credit Suisse AG acquired a new position in Adeia during the 1st quarter valued at approximately $790,000. Citigroup Inc. acquired a new position in Adeia during the 1st quarter valued at approximately $557,000. Finally, Rhumbline Advisers acquired a new position in Adeia during the 1st quarter valued at approximately $3,075,000. 97.36% of the stock is currently 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.