Rosenblatt Securities Reiterates Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $15.00 price target on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 20.29% from the company’s current price.

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

Adeia Stock Up 0.3 %

ADEA stock opened at $12.47 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00 and a quick ratio of 3.00. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 31.30 and a beta of 1.45. The business’s fifty day moving average price is $12.05 and its two-hundred day moving average price is $11.44. Adeia has a fifty-two week low of $8.61 and a fifty-two week high of $13.39.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $87.35 million for the quarter, compared to analyst estimates of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. On average, equities analysts anticipate that Adeia will post 1.18 earnings per share for the current year.

Institutional Trading of Adeia

Several large investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. boosted its stake in Adeia by 169.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock valued at $1,061,000 after buying an additional 55,979 shares in the last quarter. Stephens Inc. AR boosted its stake in Adeia by 5.3% in the third quarter. Stephens Inc. AR now owns 593,636 shares of the company’s stock valued at $7,070,000 after buying an additional 29,889 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Adeia by 4.2% in the third quarter. Wedge Capital Management L L P NC now owns 105,188 shares of the company’s stock valued at $1,253,000 after buying an additional 4,283 shares in the last quarter. SG Americas Securities LLC boosted its stake in Adeia by 243.7% in the third quarter. SG Americas Securities LLC now owns 69,627 shares of the company’s stock valued at $829,000 after buying an additional 49,367 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Adeia in the second quarter valued at about $404,000. 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.