Adeia (NASDAQ:ADEA) Receives “Buy” Rating from BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by BWS Financial in a note issued to investors on Tuesday,Benzinga reports. They presently have a $18.00 price objective on the stock. BWS Financial’s price objective indicates a potential upside of 44.93% from the company’s current price.

A number of other research analysts have also weighed in on ADEA. Weiss Ratings reissued a “hold (c)” rating on shares of Adeia in a report on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 target price on shares of Adeia in a research report on Tuesday. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Adeia in a research report on Monday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.50.

Adeia Stock Down 13.1%

NASDAQ ADEA traded down $1.88 during trading on Tuesday, hitting $12.42. The stock had a trading volume of 844,304 shares, compared to its average volume of 583,165. Adeia has a 12 month low of $10.59 and a 12 month high of $18.25. The company’s 50-day moving average price is $16.33 and its two-hundred day moving average price is $14.54. The company has a market capitalization of $1.36 billion, a PE ratio of 16.80 and a beta of 1.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09.

Institutional Trading of Adeia

A number of hedge funds and other institutional investors have recently modified their holdings of ADEA. Quarry LP acquired a new position in Adeia in the 1st quarter valued at about $29,000. CWM LLC grew its stake in shares of Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Adeia in the 1st quarter valued at $43,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Adeia during the 3rd quarter worth approximately $56,000. 97.36% of the stock is owned by institutional investors and hedge funds.

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.