Rosenblatt Securities Reaffirms “Buy” Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note issued to investors on Friday,Benzinga reports. They currently have a $15.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 30.21% from the stock’s current price.

Separately, BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a research note on Thursday, September 26th.

Adeia Price Performance

NASDAQ ADEA opened at $11.52 on Friday. The firm’s fifty day simple moving average is $12.13 and its two-hundred day simple moving average is $11.57. The firm has a market capitalization of $1.25 billion, a P/E ratio of 28.80 and a beta of 1.44. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. Adeia has a 12-month low of $8.94 and a 12-month high of $14.24.

Institutional Trading of Adeia

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC raised its holdings in shares of Adeia by 320.5% in the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after buying an additional 97,815 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Adeia by 76,084.3% during the third quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock valued at $463,000 after buying an additional 38,803 shares during the last quarter. Seizert Capital Partners LLC acquired a new position in shares of Adeia in the 3rd quarter valued at $197,000. Empowered Funds LLC raised its stake in Adeia by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after acquiring an additional 6,700 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Adeia by 22.2% during the 3rd quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock worth $3,307,000 after acquiring an additional 50,512 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.