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

Rosenblatt Securities reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report released on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $18.00 price objective on the stock.

Separately, BWS Financial reissued a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Monday, January 13th.

Adeia Trading Up 1.4 %

NASDAQ:ADEA opened at $13.47 on Tuesday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 37.42 and a beta of 1.37. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average price is $13.42 and its 200-day moving average price is $12.50. Adeia has a 52 week low of $9.68 and a 52 week high of $14.75.

Institutional Trading of Adeia

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its stake in Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company’s stock valued at $204,902,000 after buying an additional 874,098 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Adeia by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company’s stock worth $201,642,000 after acquiring an additional 143,297 shares during the period. State Street Corp increased its position in Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after acquiring an additional 91,288 shares during the last quarter. Harvey Partners LLC lifted its holdings in Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after acquiring an additional 168,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Adeia by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company’s stock worth $39,894,000 after purchasing an additional 60,941 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

About Adeia

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.