Adeia (NASDAQ:ADEA) Upgraded by Wall Street Zen to Strong-Buy Rating

Adeia (NASDAQ:ADEA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently weighed in on ADEA. Maxim Group boosted their price objective on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. UBS Group set a $20.00 target price on shares of Adeia in a report on Tuesday, December 23rd. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Rosenblatt Securities boosted their price objective on Adeia from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, BWS Financial boosted their target price on Adeia from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.20.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $19.87 on Friday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 20.28 and a beta of 1.41. The company has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $16.37. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. Adeia has a 12 month low of $10.59 and a 12 month high of $21.07.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The company had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. As a group, analysts predict that Adeia will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Adeia

A number of large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Adeia by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after acquiring an additional 2,829 shares during the last quarter. Caxton Associates LLP bought a new stake in Adeia in the first quarter valued at approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Adeia by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock valued at $3,059,000 after purchasing an additional 42,918 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Adeia by 1,193.2% during the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after purchasing an additional 321,976 shares during the period. Finally, Focus Partners Wealth acquired a new position in Adeia in the 1st quarter valued at $167,000. 97.36% of the stock is currently owned by institutional investors.

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.