Adeia (NASDAQ:ADEA) Stock Keeps Buy Rating at Rosenblatt Securities

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They currently have a $40.00 target price on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 60.51% from the stock’s previous close.

Other analysts have also issued reports about the company. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. BWS Financial boosted their price target on Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Adeia Price Performance

NASDAQ:ADEA opened at $24.92 on Tuesday. Adeia has a one year low of $11.61 and a one year high of $34.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 23.07 and a beta of 1.38. The firm’s fifty day moving average is $26.56 and its two-hundred day moving average is $27.65.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. Research analysts expect that Adeia will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new position in Adeia in the 2nd quarter worth about $458,000. NewEdge Advisors LLC boosted its position in Adeia by 29.2% during the second quarter. NewEdge Advisors LLC now owns 30,258 shares of the company’s stock worth $996,000 after purchasing an additional 6,832 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Adeia in the second quarter valued at approximately $3,028,000. Nykredit A S acquired a new stake in Adeia in the second quarter valued at approximately $126,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Adeia in the second quarter valued at approximately $3,835,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a semiconductor and intellectual property licensing company. It develops and licenses technologies that help semiconductor manufacturers and electronics companies design and produce advanced chips and systems.

The company’s portfolio includes semiconductor packaging and interconnect technologies, such as hybrid bonding and other solutions intended to improve performance, power efficiency and integration in advanced electronic devices. Its intellectual property is used across applications including data centers, communications, consumer electronics, automotive systems and other connected devices.

Adeia serves customers and technology partners internationally through licensing agreements and related business relationships.