Adeia Inc. (NASDAQ:ADEA) Short Interest Down 14.4% in January

Adeia Inc. (NASDAQ:ADEA) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 3,799,473 shares, a decline of 14.4% from the January 15th total of 4,437,935 shares. Based on an average daily volume of 837,649 shares, the short-interest ratio is presently 4.5 days. Currently, 3.5% of the company’s stock are sold short. Currently, 3.5% of the company’s stock are sold short. Based on an average daily volume of 837,649 shares, the short-interest ratio is presently 4.5 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADEA. ProShare Advisors LLC boosted its position in Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after buying an additional 656 shares during the last quarter. Redmond Asset Management LLC lifted its stake in Adeia by 0.4% during the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after acquiring an additional 727 shares during the period. Vident Advisory LLC boosted its holdings in shares of Adeia by 2.6% in the 2nd quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after acquiring an additional 937 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Adeia by 3.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company’s stock worth $536,000 after acquiring an additional 971 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Adeia by 31.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,332 shares of the company’s stock worth $81,000 after purchasing an additional 1,033 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ADEA. BWS Financial increased their price target on shares of Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, December 29th. Maxim Group increased their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Zacks Research upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. UBS Group set a $20.00 price target on Adeia in a research report on Tuesday, December 23rd. Finally, Rosenblatt Securities raised their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, Adeia presently has an average rating of “Buy” and a consensus target price of $22.00.

Adeia Price Performance

NASDAQ ADEA opened at $18.80 on Tuesday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 28.92 and a beta of 1.44. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72. The stock’s fifty day moving average price is $17.38 and its 200 day moving average price is $15.83. Adeia has a 1 year low of $10.59 and a 1 year high of $20.33.

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.