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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by research analysts at BWS Financial in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $16.00 price target on the stock. BWS Financial’s price target would suggest a potential upside of 42.98% from the company’s current price.

Separately, Rosenblatt Securities began coverage on Adeia in a research report on Friday, February 23rd. They set a “buy” rating and a $15.00 price objective for the company.

Adeia Stock Performance

NASDAQ ADEA opened at $11.19 on Tuesday. The business has a 50 day moving average price of $10.63 and a 200 day moving average price of $10.80. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. The company has a market capitalization of $1.21 billion, a P/E ratio of 18.97 and a beta of 1.43. Adeia has a 1-year low of $7.40 and a 1-year high of $13.39.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $86.87 million during the quarter, compared to the consensus estimate of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. Sell-side analysts expect that Adeia will post 1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Adeia

A number of institutional investors have recently modified their holdings of ADEA. Highlander Capital Management LLC boosted its stake in Adeia by 267.3% in the 4th quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after buying an additional 1,518 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Adeia by 635.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $25,000 after acquiring an additional 2,028 shares during the period. Carmel Capital Partners LLC purchased a new stake in Adeia in the third quarter valued at approximately $33,000. Selway Asset Management acquired a new position in Adeia during the third quarter worth approximately $36,000. Finally, EMC Capital Management raised its stake in Adeia by 2,732.0% during the third quarter. EMC Capital Management now owns 8,496 shares of the company’s stock worth $91,000 after purchasing an additional 8,196 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.