BWS Financial Reiterates “Buy” Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reiterated by equities research analysts at BWS Financial in a research report issued on Wednesday,Benzinga reports. They currently have a $16.00 price objective on the stock. BWS Financial’s price objective indicates a potential upside of 22.42% from the stock’s previous close.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Friday, November 8th.

Adeia Stock Performance

NASDAQ:ADEA opened at $13.07 on Wednesday. The stock has a market cap of $1.43 billion, a P/E ratio of 36.31 and a beta of 1.42. The firm’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $11.76. Adeia has a twelve month low of $9.46 and a twelve month high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings 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 valued at $51,767,000 after buying an additional 91,288 shares in the last quarter. LSV Asset Management lifted its position in Adeia by 11.6% during the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock valued at $42,010,000 after acquiring an additional 390,836 shares during the period. Harvey Partners LLC boosted its stake in Adeia by 5.8% during 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 in the last quarter. Dimensional Fund Advisors LP grew its holdings in Adeia by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after purchasing an additional 159,254 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Adeia by 3.1% during the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after purchasing an additional 78,135 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other 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.