Adeia Inc. (NASDAQ:ADEA) Receives Average Rating of “Buy” from Analysts

by · The Markets Daily

Adeia Inc. (NASDAQ:ADEA – Get Free Report) has earned a consensus rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.00.

Several analysts have recently weighed in on ADEA shares. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Rosenblatt Securities increased their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. UBS Group set a $20.00 target price on shares of Adeia in a report on Tuesday, December 23rd. Roth Mkm reiterated a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. Finally, Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th.

View Our Latest Report on ADEA

Adeia Trading Up 0.3%

NASDAQ ADEA opened at $19.25 on Friday. The firm’s fifty day moving average price is $16.88 and its 200 day moving average price is $15.67. Adeia has a 12 month low of $10.59 and a 12 month high of $20.33. 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 company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 29.62 and a beta of 1.44.

Hedge Funds Weigh In On Adeia

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Adeia in the 3rd quarter valued at approximately $3,353,000. JPMorgan Chase & Co. grew its holdings in Adeia by 110.7% during the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after acquiring an additional 395,462 shares during the period. Cresset Asset Management LLC purchased a new position in Adeia in the second quarter worth $1,874,000. Campbell & CO Investment Adviser LLC lifted its holdings in Adeia by 320.9% in the second quarter. Campbell & CO Investment Adviser LLC now owns 88,917 shares of the company’s stock valued at $1,257,000 after acquiring an additional 67,794 shares during the period. Finally, Summit Global Investments lifted its holdings in Adeia by 62.1% in the second quarter. Summit Global Investments now owns 81,833 shares of the company’s stock valued at $1,157,000 after acquiring an additional 31,358 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

About Adeia

(Get Free Report)

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.

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