Adeia (NASDAQ:ADEA) Raised to Strong-Buy at Zacks Research

Adeia (NASDAQ:ADEA - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on ADEA. Weiss Ratings upgraded shares of Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, January 12th. Roth Mkm upped their price objective on shares of Adeia from $27.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Wall Street Zen downgraded shares of Adeia from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. BWS Financial restated a "buy" rating and issued a $30.00 price objective on shares of Adeia in a research note on Monday, March 9th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $40.00 price objective on shares of Adeia in a research note on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $28.80.

Adeia Stock Performance

NASDAQ ADEA opened at $30.23 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. Adeia has a 1 year low of $11.61 and a 1 year high of $30.70. The company has a market capitalization of $3.35 billion, a PE ratio of 30.85 and a beta of 1.30. The company has a fifty day moving average of $24.29 and a two-hundred day moving average of $18.95.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The company had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. As a group, analysts expect that Adeia will post 1.11 earnings per share for the current year.

Institutional Investors Weigh In On Adeia

Hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. boosted its stake in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company's stock worth $25,000 after buying an additional 1,180 shares during the period. Quarry LP raised its holdings in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company's stock worth $27,000 after purchasing an additional 1,127 shares in the last quarter. IFP Advisors Inc purchased a new position in Adeia during the third quarter worth about $28,000. Osaic Holdings Inc. raised its holdings in Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock worth $37,000 after purchasing an additional 2,309 shares in the last quarter. Finally, CWM LLC raised its holdings in Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company's stock worth $41,000 after purchasing an additional 1,988 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.

About Adeia

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.

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