Adeia (NASDAQ:ADEA) Releases Earnings Results, Beats Expectations By $0.07 EPS

Adeia (NASDAQ:ADEA) released its quarterly earnings data on Monday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07, Zacks reports. Adeia had a net margin of 19.32% and a return on equity of 29.36%.

Adeia Stock Performance

Adeia stock traded down $0.53 during mid-day trading on Monday, hitting $18.48. 1,575,003 shares of the company’s stock traded hands, compared to its average volume of 822,991. The firm has a 50 day moving average price of $17.81 and a 200 day moving average price of $16.00. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.02 billion, a PE ratio of 28.43 and a beta of 1.44. Adeia has a one year low of $10.59 and a one year high of $20.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Adeia by 16.5% in the 4th quarter. Invesco Ltd. now owns 544,875 shares of the company’s stock valued at $9,399,000 after acquiring an additional 77,359 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Adeia by 13.7% during the fourth quarter. Corient Private Wealth LLC now owns 11,738 shares of the company’s stock worth $202,000 after buying an additional 1,410 shares in the last quarter. Vident Advisory LLC grew its position in Adeia by 20.1% in the fourth quarter. Vident Advisory LLC now owns 52,470 shares of the company’s stock worth $905,000 after buying an additional 8,790 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Adeia in the fourth quarter valued at $313,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Adeia during the 4th quarter valued at $531,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADEA. Rosenblatt Securities upped their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Maxim Group upped their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. BWS Financial raised their target price on Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, December 29th. Finally, UBS Group set a $20.00 price target on shares of Adeia in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, Adeia presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.