Adeia (NASDAQ:ADEA) Given “Buy” Rating at Rosenblatt Securities

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

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

Adeia Trading Up 1.4 %

Shares of ADEA stock opened at $13.47 on Tuesday. Adeia has a 1 year low of $9.68 and a 1 year high of $14.75. The firm has a fifty day moving average price of $13.42 and a 200-day moving average price of $12.50. The company 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 debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42.

Hedge Funds Weigh In On Adeia

Hedge funds have recently modified their holdings of the company. Stephens Inc. AR lifted its stake in shares of Adeia by 5.3% during the 3rd 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. Robeco Institutional Asset Management B.V. raised its holdings in Adeia by 169.2% during 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 acquiring an additional 55,979 shares during the period. Royce & Associates LP raised its holdings in Adeia by 22.2% during the third quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after acquiring an additional 50,512 shares during the period. Empowered Funds LLC lifted its position in shares of Adeia by 5.3% in the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in shares of Adeia during the third quarter worth about $197,000. 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.