Adeia (NASDAQ:ADEA – Get Free Report) had its price target boosted by equities research analysts at BWS Financial from $30.00 to $50.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BWS Financial’s target price suggests a potential upside of 68.13% from the company’s current price.
Several other equities analysts have also 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 reaffirmed a “buy” rating and set a $40.00 target price on shares of Adeia in a research note on Tuesday, August 4th. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Maxim Group set a $35.00 price target on Adeia in a research note on Wednesday, May 6th. Finally, Roth Capital reissued a “buy” rating and set a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.60.
Check Out Our Latest Report on Adeia
Adeia Price Performance
Adeia (NASDAQ:ADEA – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. Sell-side analysts anticipate that Adeia will post 1.17 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ADEA. Fifth Third Bancorp raised its stake in Adeia by 13,439.1% during the 1st quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock valued at $1,347,000 after acquiring an additional 55,638 shares during the last quarter. Denali Advisors LLC purchased a new stake in shares of Adeia during the fourth quarter worth approximately $833,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Adeia by 20.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock worth $3,810,000 after purchasing an additional 37,749 shares during the period. Thompson Siegel & Walmsley LLC grew its position in Adeia by 45.8% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company’s stock valued at $10,082,000 after buying an additional 183,670 shares during the last quarter. Finally, Skylands Capital LLC increased its stake in Adeia by 15.1% in the 4th quarter. Skylands Capital LLC now owns 572,243 shares of the company’s stock valued at $9,871,000 after buying an additional 74,943 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.
Adeia Company Profile
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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