Adeia (NASDAQ:ADEA – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.
Several other equities research analysts have also commented on the company. BWS Financial restated a “buy” rating and set a $50.00 target price on shares of Adeia in a research report on Wednesday, October 7th. Rosenblatt Securities cut their target price on Adeia from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings cut shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.60.
Check Out Our Latest Stock Analysis on ADEA
Adeia Trading Up 4.6%
NASDAQ ADEA traded up $0.68 during trading hours on Thursday, reaching $15.50. The company’s stock had a trading volume of 2,127,015 shares, compared to its average volume of 1,186,632. The stock has a market cap of $1.71 billion, a P/E ratio of 15.20 and a beta of 1.46. The firm has a fifty day simple moving average of $23.48 and a 200-day simple moving average of $25.42. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. Adeia has a 52 week low of $11.61 and a 52 week high of $34.34.
Adeia (NASDAQ:ADEA – Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $80.19 million during the quarter, compared to the consensus estimate of $98.88 million. Adeia had a return on equity of 36.32% and a net margin of 25.04%. Equities analysts forecast that Adeia will post 1.03 earnings per share for the current fiscal year.
Institutional Trading of Adeia
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Adeia in the second quarter valued at $573,267,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Adeia in the 2nd quarter worth about $46,004,000. Deutsche Bank AG bought a new stake in Adeia during the 2nd quarter valued at approximately $34,520,000. Bank of New York Mellon Corp bought a new position in Adeia in the second quarter worth $34,425,000. Finally, Bank of America Corp DE bought a new stake in Adeia during the second quarter worth about $23,679,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.
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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