Adeia (NASDAQ:ADEA) Now Covered by Roth Capital

Stock analysts at Roth Capital started coverage on shares of Adeia (NASDAQ:ADEA - Get Free Report) in a report issued on Friday, MarketBeat reports. The firm set a "buy" rating and a $26.00 price target on the stock. Roth Capital's target price suggests a potential upside of 99.08% from the stock's current price.

ADEA has been the topic of a number of other research reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Stock Up 0.2%

ADEA opened at $13.06 on Friday. The company has a fifty day moving average of $12.89 and a two-hundred day moving average of $13.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.94 and a current ratio of 2.94. Adeia has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.79 and a beta of 1.59.

Institutional Investors Weigh In On Adeia

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Adeia by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 532,709 shares of the company's stock valued at $7,447,000 after buying an additional 17,130 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock valued at $319,000 after acquiring an additional 3,900 shares during the period. Bank of New York Mellon Corp grew its position in Adeia by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company's stock valued at $15,715,000 after acquiring an additional 13,619 shares in the last quarter. SVB Wealth LLC purchased a new stake in Adeia during the fourth quarter worth about $423,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Adeia by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company's stock worth $13,923,000 after purchasing an additional 30,485 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Company Profile

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.

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