BWS Financial Reiterates "Buy" Rating for Adeia (NASDAQ:ADEA)

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

Several other research firms have also issued reports on ADEA. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th. Roth Capital began coverage on Adeia in a research note on Friday, June 20th. They set a "buy" rating and a $26.00 price target on the stock.

Adeia Price Performance

Shares of ADEA traded down $0.29 during trading hours on Wednesday, hitting $14.67. 583,953 shares of the company were exchanged, compared to its average volume of 543,438. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 22.23 and a beta of 1.59. Adeia has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13. The firm's fifty day moving average is $13.60 and its 200 day moving average is $13.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Adeia by 6.3% during the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock worth $204,902,000 after purchasing an additional 874,098 shares during the period. Vanguard Group Inc. raised its position in Adeia by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock valued at $201,642,000 after buying an additional 143,297 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Adeia by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after purchasing an additional 60,941 shares during the last quarter. Geode Capital Management LLC increased its stake in Adeia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock valued at $36,734,000 after buying an additional 10,883 shares during the last quarter. Finally, Boston Partners increased its stake in Adeia by 5.3% in the 4th quarter. Boston Partners now owns 2,563,814 shares of the company's stock valued at $35,548,000 after buying an additional 129,922 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.

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.