Wall Street Zen Downgrades Adeia (NASDAQ:ADEA) to Hold

Key Points

• Wall Street Zen downgraded Adeia (NASDAQ: ADEA) from a "buy" rating to a "hold" rating in a recent report.
• Adeia's current consensus price target is $19.50, with several firms issuing buy ratings, including a $26.00 price objective from Roth Capital.
• Institutional investors hold 97.36% of Adeia's stock, indicating significant interest from larger financial entities.

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

Several other research firms have also recently issued reports on ADEA. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and issued a $18.00 price objective on shares of Adeia in a report on Wednesday. Finally, Roth Capital initiated coverage on Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Adeia currently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Adeia Trading Up 3.3%

ADEA stock opened at $14.23 on Friday. The company has a current ratio of 3.09, a quick ratio of 2.94 and a debt-to-equity ratio of 1.06. Adeia has a 12-month low of $10.59 and a 12-month high of $17.46. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 19.23 and a beta of 1.53. The business's 50-day moving average is $13.72 and its 200 day moving average is $13.48.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Global Investments boosted its holdings in shares of Adeia by 1.9% during the 1st quarter. Summit Global Investments now owns 50,475 shares of the company's stock worth $667,000 after purchasing an additional 931 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Adeia by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company's stock worth $272,000 after purchasing an additional 989 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Adeia by 3.1% during the 1st quarter. Kendall Capital Management now owns 34,401 shares of the company's stock worth $455,000 after purchasing an additional 1,050 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Adeia by 14.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Carmel Capital Partners LLC boosted its holdings in shares of Adeia by 9.9% during the 1st quarter. Carmel Capital Partners LLC now owns 12,904 shares of the company's stock worth $171,000 after purchasing an additional 1,161 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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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