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

Adeia (NASDAQ:ADEA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at BWS Financial in a report issued on Tuesday,Benzinga reports. They presently have a $18.00 price target on the stock. BWS Financial's price target suggests a potential upside of 37.09% from the company's current price.

ADEA has been the topic of several other reports. Maxim Group boosted their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a "buy" rating and set a $17.00 target price on shares of Adeia in a research report on Tuesday.

Adeia Stock Up 6.3 %

Shares of Adeia stock traded up $0.78 on Tuesday, hitting $13.13. The company had a trading volume of 183,666 shares, compared to its average volume of 633,554. 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 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The stock has a 50 day moving average of $13.10 and a 200-day moving average of $13.18. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.94 and a beta of 1.57.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the prior year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Adeia will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Adeia

Several large investors have recently added to or reduced their stakes in ADEA. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Adeia in the fourth quarter worth about $33,000. Picton Mahoney Asset Management grew its stake in Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after buying an additional 972 shares in the last quarter. GAMMA Investing LLC raised its holdings in Adeia by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock valued at $48,000 after acquiring an additional 1,611 shares during the period. KBC Group NV lifted its position in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after acquiring an additional 2,977 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after acquiring an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

About Adeia

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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