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

Key Points

• BWS Financial has reaffirmed a "buy" rating for Adeia (NASDAQ: ADEA) with a target price of $18.00, indicating a potential upside of 26.32% from its current price.
• Other brokerages, including Rosenblatt Securities and Roth Capital, also maintain "buy" ratings for Adeia, with price objectives of $17.00 and $26.00 respectively.
• Adeia's stock price opened at $14.25 and has increased by 14.1%, with a market capitalization of $1.55 billion.

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at BWS Financial in a report released on Wednesday,Benzinga reports. They currently have a $18.00 target price on the stock. BWS Financial's price objective would indicate a potential upside of 26.32% from the stock's current price.

Several other brokerages have also recently commented on ADEA. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price objective on shares of Adeia in a research note on Tuesday, May 6th. Roth Capital initiated coverage on shares of Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective on the stock.

Adeia Trading Up 14.1%

NASDAQ:ADEA opened at $14.25 on Wednesday. The firm has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $13.46. The company has a market capitalization of $1.55 billion, a P/E ratio of 21.72 and a beta of 1.53. Adeia has a 12 month low of $10.31 and a 12 month high of $17.46. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13.

Institutional Trading of Adeia

Several large investors have recently modified their holdings of the company. Ritholtz Wealth Management bought a new stake in shares of Adeia in the first quarter valued at about $175,000. GAMMA Investing LLC raised its stake in shares of Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after acquiring an additional 1,611 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Adeia by 9.6% in the first quarter. New York State Teachers Retirement System now owns 148,732 shares of the company's stock valued at $1,966,000 after acquiring an additional 13,078 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Adeia by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 56,254 shares of the company's stock worth $744,000 after purchasing an additional 21,302 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Adeia by 14.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after buying an additional 1,062 shares during the last quarter. 97.36% of the stock is owned by 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.

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