Adeia (NASDAQ:ADEA) Reaches New 1-Year High – What’s Next?

Adeia Inc. (NASDAQ:ADEA)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $13.60 and last traded at $13.60, with a volume of 99751 shares changing hands. The stock had previously closed at $12.79.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADEA. BWS Financial restated a “buy” rating and set a $16.00 price objective on shares of Adeia in a research report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Thursday, October 31st.

Adeia Trading Up 0.3 %

The company has a 50 day simple moving average of $12.15 and a two-hundred day simple moving average of $11.55. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. The firm has a market cap of $1.53 billion, a PE ratio of 35.23 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $83.74 million. Analysts expect that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ADEA. Innealta Capital LLC purchased a new position in Adeia in the 2nd quarter worth approximately $47,000. EMC Capital Management increased its holdings in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares during the last quarter. Algert Global LLC purchased a new position in Adeia during the second quarter worth approximately $122,000. Seizert Capital Partners LLC purchased a new stake in Adeia in the 3rd quarter valued at $197,000. Finally, Aristides Capital LLC acquired a new stake in shares of Adeia in the 1st quarter worth $213,000. 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.