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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $18.00 price objective on the stock. BWS Financial’s price objective suggests a potential upside of 30.62% from the company’s current price.

ADEA has been the topic of several other research reports. Rosenblatt Securities reissued a “buy” rating and set a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th. Roth Capital began coverage on shares of Adeia in a research note on Friday, June 20th. They set a “buy” rating and a $26.00 price objective on the stock.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $13.78 on Wednesday. The firm’s 50 day moving average is $13.69 and its two-hundred day moving average is $13.47. The company has a current ratio of 3.09, a quick ratio of 2.94 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $1.50 billion, a P/E ratio of 18.62 and a beta of 1.53. Adeia has a 52 week low of $10.52 and a 52 week high of $17.46.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADEA. Campbell & CO Investment Adviser LLC grew its position in Adeia by 320.9% in the second quarter. Campbell & CO Investment Adviser LLC now owns 88,917 shares of the company’s stock worth $1,257,000 after buying an additional 67,794 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Adeia by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,074,075 shares of the company’s stock worth $15,187,000 after acquiring an additional 6,653 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Adeia by 75.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 41,283 shares of the company’s stock worth $584,000 after acquiring an additional 17,796 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Adeia during the second quarter worth $424,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Adeia during the second quarter worth $204,000. 97.36% of the stock is owned by institutional investors and hedge funds.

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.