Redmond Asset Management LLC reduced its position in shares of Adeia Inc. (NASDAQ:ADEA – Free Report) by 69.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,444 shares of the company’s stock after selling 73,500 shares during the quarter. Redmond Asset Management LLC’s holdings in Adeia were worth $831,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of ADEA. Oppenheimer & Co. Inc. bought a new position in shares of Adeia in the third quarter worth approximately $280,000. Sterling Capital Management LLC increased its position in shares of Adeia by 529.5% during the third quarter. Sterling Capital Management LLC now owns 3,544 shares of the company’s stock valued at $91,000 after acquiring an additional 2,981 shares in the last quarter. Vest Financial LLC raised its holdings in Adeia by 32.1% in the 3rd quarter. Vest Financial LLC now owns 8,289 shares of the company’s stock worth $212,000 after acquiring an additional 2,015 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in Adeia by 27.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 108,202 shares of the company’s stock worth $2,770,000 after acquiring an additional 23,614 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Adeia by 10.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 129,376 shares of the company’s stock worth $3,312,000 after acquiring an additional 12,155 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.
Adeia Stock Up 0.2%
NASDAQ ADEA opened at $22.75 on Thursday. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. 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 stock has a market cap of $2.51 billion, a PE ratio of 21.06 and a beta of 1.35. The stock’s 50 day moving average is $24.61 and its 200 day moving average is $25.43.
Adeia (NASDAQ:ADEA – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Research analysts predict that Adeia Inc. will post 1.17 EPS for the current fiscal year.
Analysts Set New Price Targets
ADEA has been the topic of several analyst reports. BWS Financial reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Adeia in a research report on Wednesday, October 7th. Weiss Ratings lowered Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, September 29th. Finally, Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.60.
Get Our Latest Analysis on Adeia
About Adeia
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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