Rosenblatt Securities Forecasts Strong Price Appreciation for Adeia (NASDAQ:ADEA) Stock

Adeia (NASDAQ:ADEA) had its price objective raised by research analysts at Rosenblatt Securities from $15.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 25.17% from the stock’s previous close.

Separately, BWS Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th.

Adeia Trading Up 0.6 %

NASDAQ ADEA opened at $14.38 on Thursday. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $12.43 and a 200 day simple moving average of $11.84. Adeia has a 12 month low of $9.68 and a 12 month high of $14.50. The firm has a market capitalization of $1.57 billion, a P/E ratio of 39.94 and a beta of 1.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of Adeia by 2.1% during the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after purchasing an additional 91,288 shares during the period. LSV Asset Management increased its holdings in Adeia by 11.6% during the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after buying an additional 390,836 shares during the last quarter. Harvey Partners LLC raised its position in Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after acquiring an additional 168,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in Adeia by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after acquiring an additional 159,254 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after acquiring an additional 78,135 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.