Adeia (NASDAQ:ADEA – Get Free Report)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report released on Friday,Benzinga reports. They currently have a $15.00 target price on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 30.21% from the company’s previous close.
Separately, BWS Financial reiterated a “buy” rating and set a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th.
Read Our Latest Research Report on ADEA
Adeia Stock Down 18.2 %
Adeia (NASDAQ:ADEA – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Adeia had a return on equity of 33.28% and a net margin of 12.87%. The company had revenue of $87.35 million during the quarter, compared to analyst estimates of $83.74 million. Research analysts anticipate that Adeia will post 1.18 earnings per share for the current fiscal year.
Institutional Trading of Adeia
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in shares of Adeia in the 2nd quarter valued at $47,000. EMC Capital Management increased its position in shares of Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the period. Algert Global LLC acquired a new position in shares of Adeia in the 2nd quarter valued at $122,000. Seizert Capital Partners LLC acquired a new position in shares of Adeia in the 3rd quarter valued at $197,000. Finally, Aristides Capital LLC acquired a new stake in Adeia during the 1st quarter worth about $213,000. Hedge funds and other institutional investors 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.
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