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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by equities research analysts at BWS Financial in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $18.00 target price on the stock. BWS Financial’s price target suggests a potential upside of 50.25% from the stock’s previous close.

Several other research firms also recently commented on ADEA. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Adeia in a report on Friday, February 28th. Maxim Group boosted their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

Adeia Stock Down 1.0 %

Shares of ADEA opened at $11.98 on Tuesday. The business’s 50 day moving average is $13.78 and its 200 day moving average is $13.14. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a market capitalization of $1.30 billion, a PE ratio of 21.02 and a beta of 1.47.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The firm had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Research analysts expect that Adeia will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Adeia

A number of large investors have recently made changes to their positions in ADEA. Castlekeep Investment Advisors LLC bought a new position in shares of Adeia in the 4th quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Adeia in the 4th quarter valued at approximately $33,000. Picton Mahoney Asset Management lifted its stake in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after purchasing an additional 972 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Adeia by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock worth $48,000 after purchasing an additional 1,611 shares during the period. Finally, KBC Group NV increased its position in shares of Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after purchasing an additional 2,977 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

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.