Weiss Ratings Reiterates “Hold (C)” Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “hold (c)” rating reissued by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the company. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Roth Capital assumed coverage on Adeia in a research report on Friday, June 20th. They issued a “buy” rating and a $26.00 target price for the company. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, BWS Financial reissued a “buy” rating and set a $18.00 price objective on shares of Adeia in a report on Monday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Adeia currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Adeia Stock Performance

Shares of Adeia stock opened at $16.42 on Wednesday. Adeia has a one year low of $10.59 and a one year high of $18.25. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 22.19 and a beta of 1.74. The business has a 50-day simple moving average of $15.50 and a 200 day simple moving average of $14.00. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09.

Hedge Funds Weigh In On Adeia

Several institutional investors have recently modified their holdings of ADEA. GAMMA Investing LLC grew its holdings in shares of Adeia by 2,291.2% in the first quarter. GAMMA Investing LLC now owns 47,632 shares of the company’s stock valued at $630,000 after acquiring an additional 45,640 shares in the last quarter. SG Americas Securities LLC grew its holdings in Adeia by 60.9% during the first quarter. SG Americas Securities LLC now owns 56,254 shares of the company’s stock valued at $744,000 after purchasing an additional 21,302 shares during the period. Ritholtz Wealth Management bought a new position in Adeia during the first quarter valued at $175,000. Illinois Municipal Retirement Fund grew its holdings in Adeia by 21.1% during the first quarter. Illinois Municipal Retirement Fund now owns 61,510 shares of the company’s stock valued at $813,000 after purchasing an additional 10,704 shares during the period. Finally, Skylands Capital LLC grew its holdings in Adeia by 17.3% during the first quarter. Skylands Capital LLC now owns 307,400 shares of the company’s stock valued at $4,064,000 after purchasing an additional 45,400 shares during the period. 97.36% of the stock is owned by institutional investors.

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.