BWS Financial Reaffirms Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by BWS Financial in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $30.00 price target on the stock. BWS Financial’s price objective would suggest a potential upside of 38.29% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Roth Mkm reaffirmed a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Saturday. UBS Group set a $20.00 price target on Adeia in a report on Tuesday, December 23rd. Finally, Rosenblatt Securities set a $40.00 price target on Adeia in a research note on Monday. Five research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $27.20.

Adeia Stock Up 9.2%

Shares of Adeia stock traded up $1.82 during trading on Monday, reaching $21.69. The stock had a trading volume of 1,645,435 shares, compared to its average volume of 931,049. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 22.14 and a beta of 1.41. The stock has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $16.39. Adeia has a 52 week low of $10.59 and a 52 week high of $21.96.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. Sell-side analysts predict that Adeia will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of Adeia by 64.5% during the fourth quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock worth $34,474,000 after buying an additional 783,869 shares in the last quarter. Systematic Financial Management LP increased its position in Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the period. Deutsche Bank AG raised its stake in Adeia by 386.1% in the 4th quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after purchasing an additional 582,106 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Adeia by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after purchasing an additional 448,274 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Adeia by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock valued at $10,644,000 after purchasing an additional 395,462 shares during the period. 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.