Zacks Research Downgrades Adeia (NASDAQ:ADEA) to Hold

Adeia (NASDAQ:ADEA) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. BWS Financial lifted their price target on Adeia from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. UBS Group set a $20.00 price objective on Adeia in a report on Tuesday, December 23rd. Maxim Group lifted their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Roth Mkm restated a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Adeia currently has an average rating of “Moderate Buy” and an average price target of $25.20.

Adeia Stock Performance

Shares of Adeia stock traded down $0.16 during trading on Thursday, hitting $20.69. 1,265,440 shares of the stock were exchanged, compared to its average volume of 935,894. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.72 and a current ratio of 3.81. Adeia has a 12 month low of $10.59 and a 12 month high of $21.07. The stock’s fifty day moving average is $18.53 and its 200 day moving average is $16.18. The stock has a market cap of $2.27 billion, a PE ratio of 21.11 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The company had revenue of $182.64 million during the quarter, compared to analysts’ expectations of $168.45 million. As a group, sell-side analysts anticipate that Adeia will post 1.09 EPS for the current year.

Institutional Investors Weigh In On Adeia

Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its position in shares of Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after buying an additional 656 shares during the last quarter. Redmond Asset Management LLC raised its stake in Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after acquiring an additional 727 shares during the period. Amundi lifted its holdings in Adeia by 4.5% during the 4th quarter. Amundi now owns 19,003 shares of the company’s stock valued at $328,000 after purchasing an additional 827 shares during the last quarter. Vident Advisory LLC boosted its position in Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after purchasing an additional 937 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Adeia by 3.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company’s stock valued at $536,000 after purchasing an additional 971 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

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.