Adeia (NASDAQ:ADEA) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Adeia missed quarterly earnings and revenue estimates: The company reported adjusted EPS of $0.21 versus the $0.30 consensus estimate, while revenue of $80.19 million fell short of expectations of $98.88 million.
• The stock declined 3.6% to $20.67 following the results, with trading volume above its average. Adeia’s shares remain well below their 12-month high of $34.34.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $37.60.

Adeia (NASDAQ:ADEA - Get Free Report) released its earnings results on Monday. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09), FiscalAI reports. Adeia had a return on equity of 39.26% and a net margin of 26.05%. The business had revenue of $80.19 million during the quarter, compared to analysts' expectations of $98.88 million.

Adeia Stock Down 3.6%

ADEA traded down $0.77 on Monday, hitting $20.67. 2,184,311 shares of the company were exchanged, compared to its average volume of 1,370,192. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 19.14 and a beta of 1.46. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $24.40 and a two-hundred day moving average price of $25.46.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research raised Adeia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, September 29th. BWS Financial reaffirmed a "buy" rating and set a $50.00 price objective on shares of Adeia in a research report on Wednesday, October 7th. Finally, Weiss Ratings lowered Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, September 29th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.60.

Adeia Company Profile

Adeia Inc is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacture and packaging of advanced electronic devices. Rather than producing semiconductors itself, the company works with chipmakers, foundries and other industry participants to commercialize its intellectual property.

Adeia's portfolio includes technologies for three-dimensional semiconductor integration, hybrid bonding, advanced packaging, memory and chip-to-chip connectivity.

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