Adeia (NASDAQ:ADEA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Adeia (NASDAQ:ADEA) from "hold" to "strong-buy," joining multiple analysts who have raised targets and given buy ratings, leaving the consensus as a "Moderate Buy" with an average price target of $25.20.
• Adeia beat Q4 expectations, reporting $0.86 EPS vs. $0.73 expected and $182.6M revenue vs. $168.5M expected, with strong profitability (ROE 38.0%, net margin 25.1%).
• Despite the positive updates, the stock opened at $19.87 and was down about 5.4%, trading within a 52-week range of $10.59–$21.07 and carrying a market cap of roughly $2.17 billion (P/E ~20.3).

Adeia (NASDAQ:ADEA - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report issued on Saturday.

ADEA has been the subject of a number of other research reports. Weiss Ratings raised shares of Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. BWS Financial lifted their target price on Adeia from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Rosenblatt Securities boosted their price target on Adeia from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Zacks Research cut shares of Adeia from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Maxim Group increased their target price on Adeia from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, December 23rd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.20.

Adeia Stock Down 5.4%

Shares of ADEA opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81. Adeia has a 52 week low of $10.59 and a 52 week high of $21.07. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.28 and a beta of 1.41. The stock has a fifty day moving average of $18.86 and a 200-day moving average of $16.37.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. As a group, sell-side analysts anticipate that Adeia will post 1.09 earnings per share for the current fiscal year.

Institutional Trading of Adeia

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC grew its stake in shares of Adeia by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 21,153 shares of the company's stock worth $365,000 after buying an additional 656 shares in the last quarter. Redmond Asset Management LLC lifted its stake in shares of Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company's stock valued at $3,318,000 after purchasing an additional 727 shares during the last quarter. Amundi lifted its stake in shares of Adeia by 4.5% in the 4th quarter. Amundi now owns 19,003 shares of the company's stock valued at $328,000 after purchasing an additional 827 shares during the last quarter. Vident Advisory LLC lifted its position in Adeia by 2.6% in the second quarter. Vident Advisory LLC now owns 37,366 shares of the company's stock worth $528,000 after buying an additional 937 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in Adeia by 3.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company's stock worth $536,000 after buying an additional 971 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.