BWS Financial Forecasts Strong Price Appreciation for Adeia (NASDAQ:ADEA) Stock

Adeia (NASDAQ:ADEA) had its price target boosted by equities research analysts at BWS Financial from $16.00 to $18.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BWS Financial’s price objective suggests a potential upside of 4.63% from the stock’s previous close.

Separately, Rosenblatt Securities reissued a “buy” rating and set a $18.00 target price on shares of Adeia in a report on Tuesday.

Adeia Stock Performance

Shares of NASDAQ ADEA traded up $3.73 during midday trading on Wednesday, reaching $17.20. The company had a trading volume of 369,732 shares, compared to its average volume of 432,773. The business’s 50-day simple moving average is $13.42 and its 200 day simple moving average is $12.50. The stock has a market cap of $1.88 billion, a P/E ratio of 47.30 and a beta of 1.37. Adeia has a 1 year low of $9.68 and a 1 year high of $16.83. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 12.01% and a return on equity of 28.37%. During the same quarter last year, the company posted $0.27 earnings per share. On average, analysts forecast that Adeia will post 1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ADEA. Castlekeep Investment Advisors LLC purchased a new position in shares of Adeia during the fourth quarter worth $25,000. Ameriprise Financial Inc. grew its position in Adeia by 6.3% during the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company’s stock valued at $204,902,000 after buying an additional 874,098 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in Adeia during the third quarter valued at $8,412,000. Intech Investment Management LLC grew its position in Adeia by 250.9% during the fourth quarter. Intech Investment Management LLC now owns 450,303 shares of the company’s stock valued at $6,295,000 after buying an additional 321,970 shares during the period. Finally, Systematic Financial Management LP grew its position in Adeia by 17.0% during the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock valued at $25,728,000 after buying an additional 313,741 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.