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

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They presently have a $15.00 target price on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 18.30% from the company’s previous close.

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

Adeia Price Performance

NASDAQ ADEA opened at $12.68 on Thursday. Adeia has a 1 year low of $8.28 and a 1 year high of $13.39. The company has a fifty day simple moving average of $12.02 and a 200 day simple moving average of $11.43. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The company has a market cap of $1.38 billion, a P/E ratio of 31.70 and a beta of 1.45.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. LSV Asset Management lifted its holdings in shares of Adeia by 59.8% during the 1st quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock worth $36,746,000 after acquiring an additional 1,259,857 shares during the period. Boston Partners lifted its stake in Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after purchasing an additional 325,342 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after purchasing an additional 159,254 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock valued at $154,167,000 after purchasing an additional 132,718 shares during the period. Finally, Skylands Capital LLC raised its holdings in shares of Adeia by 99.7% in the 2nd quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock worth $2,327,000 after buying an additional 103,817 shares in the last quarter. 97.36% of the stock is 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.