Adeia’s (ADEA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $15.00 price target on the stock.

Separately, BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th.

Adeia Stock Up 0.3 %

Shares of NASDAQ ADEA opened at $12.47 on Thursday. Adeia has a 1 year low of $8.61 and a 1 year high of $13.39. The firm’s 50-day moving average is $12.06 and its 200-day moving average is $11.48. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.36 billion, a PE ratio of 31.18 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. Equities analysts expect that Adeia will post 1.18 EPS for the current year.

Hedge Funds Weigh In On Adeia

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in shares of Adeia during the 2nd quarter valued at about $47,000. EMC Capital Management boosted its holdings in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after buying an additional 2,360 shares during the period. Algert Global LLC acquired a new position in shares of Adeia in the second quarter valued at approximately $122,000. Aristides Capital LLC bought a new stake in shares of Adeia during the first quarter worth $213,000. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Adeia by 35.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock worth $224,000 after acquiring an additional 5,316 shares during the period. 97.36% of the stock is 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.