Adeia (NASDAQ:ADEA) Stock Rating Reaffirmed as Buy by BWS Financial

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reiterated by BWS Financial in a research note issued on Wednesday, Benzinga reports. They presently have a $50.00 target price on the stock. BWS Financial's target price would suggest a potential upside of 107.17% from the company's previous close.

Several other equities research analysts have also recently commented on ADEA. Weiss Ratings cut Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 29th. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price objective on shares of Adeia in a research report on Tuesday, September 29th. Finally, Zacks Research raised Adeia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Adeia has a consensus rating of "Moderate Buy" and a consensus price target of $37.60.

Adeia Stock Down 1.9%

Shares of NASDAQ ADEA traded down $0.47 during trading on Wednesday, reaching $24.14. The company had a trading volume of 374,872 shares, compared to its average volume of 1,383,472. Adeia has a 12-month low of $11.61 and a 12-month high of $34.34. The stock has a market cap of $2.66 billion, a PE ratio of 22.36 and a beta of 1.35. The business's 50-day moving average is $26.42 and its 200 day moving average is $27.75. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76.

Adeia (NASDAQ:ADEA - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The firm had revenue of $96.12 million for the quarter, compared to analysts' expectations of $96.79 million. As a group, equities analysts forecast that Adeia will post 1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Adeia in the 2nd quarter worth approximately $458,000. NewEdge Advisors LLC boosted its holdings in shares of Adeia by 29.2% in the 2nd quarter. NewEdge Advisors LLC now owns 30,258 shares of the company's stock worth $996,000 after purchasing an additional 6,832 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Adeia in the 2nd quarter worth approximately $3,028,000. Nykredit A S purchased a new position in shares of Adeia in the 2nd quarter worth approximately $126,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Adeia during the 2nd quarter worth approximately $3,835,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Company Profile

Adeia Inc NASDAQ: ADEA is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company's technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.