Adeia Inc. (NASDAQ:ADEA) Receives Consensus Recommendation of “Buy” from Brokerages

Adeia Inc. (NASDAQ:ADEA) has received a consensus rating of “Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.00.

A number of brokerages have issued reports on ADEA. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Roth Mkm reaffirmed a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. Rosenblatt Securities lifted their price objective on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, BWS Financial increased their price target on shares of Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 29th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Adeia in the third quarter valued at approximately $3,353,000. JPMorgan Chase & Co. raised its holdings in shares of Adeia by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after purchasing an additional 395,462 shares during the period. Cresset Asset Management LLC acquired a new position in shares of Adeia during the 2nd quarter valued at $1,874,000. Campbell & CO Investment Adviser LLC boosted its position in shares of 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 period. Finally, Summit Global Investments increased its stake in Adeia by 62.1% during the 2nd quarter. Summit Global Investments now owns 81,833 shares of the company’s stock worth $1,157,000 after buying an additional 31,358 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $17.31 on Friday. Adeia has a 52 week low of $10.59 and a 52 week high of $20.33. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 26.63 and a beta of 1.44. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.01. The firm has a 50-day simple moving average of $16.50 and a 200-day simple moving average of $15.53.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The company had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Adeia had a return on equity of 29.36% and a net margin of 19.32%. On average, equities analysts predict that Adeia will post 1.09 earnings per share for the current fiscal year.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.