BWS Financial Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its target price upped by investment analysts at BWS Financial from $30.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BWS Financial’s target price points to a potential upside of 68.13% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Maxim Group set a $35.00 target price on Adeia in a report on Wednesday, May 6th. Roth Capital reaffirmed a “buy” rating and set a $43.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Adeia has an average rating of “Moderate Buy” and an average price target of $37.60.

Adeia Price Performance

Adeia stock opened at $29.74 on Friday. The company has a market cap of $3.28 billion, a P/E ratio of 27.41 and a beta of 1.39. Adeia has a one year low of $11.61 and a one year high of $34.34. The business has a fifty day moving average of $29.07 and a two-hundred day moving average of $26.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm 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%. As a group, analysts predict that Adeia will post 1.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kendall Capital Management acquired a new position in shares of Adeia during the 2nd quarter valued at about $979,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Adeia in the 2nd quarter valued at $117,000. Evolve Private Wealth LLC purchased a new stake in shares of Adeia during the 2nd quarter valued at $1,700,000. Allworth Financial LP acquired a new stake in shares of Adeia during the 2nd quarter worth $54,000. Finally, NewEdge Wealth LLC purchased a new position in shares of Adeia in the 2nd quarter worth $3,332,000. Hedge funds and other institutional investors 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.