Adeia (NASDAQ:ADEA – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
A number of other analysts have also recently weighed in on ADEA. Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Weiss Ratings cut shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. BWS Financial reissued a “buy” rating and set a $30.00 target price on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Roth Mkm reissued a “buy” rating and set a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Adeia presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.
Read Our Latest Report on ADEA
Adeia Stock Performance
Adeia (NASDAQ:ADEA – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The firm had revenue of $104.77 million for the quarter, compared to the consensus estimate of $99.72 million. As a group, research analysts predict that Adeia will post 1.15 earnings per share for the current fiscal year.
Institutional Trading of Adeia
A number of large investors have recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in shares of Adeia by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares during the period. Systematic Financial Management LP increased its holdings in shares of Adeia by 27.9% in the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Adeia by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after acquiring an additional 13,412 shares during the period. Geode Capital Management LLC increased its holdings in shares of Adeia by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after acquiring an additional 19,601 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Adeia by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.
About Adeia
Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.
By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.
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