Adeia (NASDAQ:ADEA) Earns Buy Rating from BWS Financial

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at BWS Financial in a note issued to investors on Wednesday,Benzinga reports. They presently have a $18.00 price target on the stock. BWS Financial's target price indicates a potential upside of 22.70% from the stock's previous close.

ADEA has been the subject of a number of other reports. Roth Capital initiated coverage on shares of Adeia in a report on Friday, June 20th. They set a "buy" rating and a $26.00 price target for the company. Rosenblatt Securities restated a "buy" rating and issued a $17.00 target price on shares of Adeia in a report on Tuesday, May 6th.

Adeia Price Performance

ADEA traded down $0.29 during midday trading on Wednesday, reaching $14.67. 583,953 shares of the company's stock were exchanged, compared to its average volume of 543,438. The stock has a market capitalization of $1.59 billion, a PE ratio of 22.23 and a beta of 1.59. Adeia has a 1-year low of $9.68 and a 1-year high of $17.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.94 and a quick ratio of 2.94. The business's 50-day moving average price is $13.60 and its 200 day moving average price is $13.47.

Institutional Investors Weigh In On Adeia

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Adeia during the first quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Adeia during the fourth quarter worth approximately $33,000. Picton Mahoney Asset Management grew its stake in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after buying an additional 972 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Adeia during the first quarter worth approximately $43,000. Finally, Brooklyn Investment Group purchased a new stake in Adeia during the first quarter worth approximately $44,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

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.