Adeia (NASDAQ:ADEA) Price Target Raised to $34.00 at Roth Mkm

Adeia (NASDAQ:ADEA) had its price objective lifted by stock analysts at Roth Mkm from $27.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s target price points to a potential upside of 46.39% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. UBS Group set a $20.00 price target on shares of Adeia in a research note on Tuesday, December 23rd. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Maxim Group boosted their price target 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. Wall Street Zen upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.80.

Adeia Stock Up 1.9%

NASDAQ ADEA traded up $0.44 on Monday, reaching $23.23. The company had a trading volume of 487,634 shares, compared to its average volume of 991,821. The company’s fifty day moving average is $19.41 and its 200-day moving average is $16.66. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81. Adeia has a 1-year low of $10.59 and a 1-year high of $23.80.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $168.45 million. On average, research analysts forecast that Adeia will post 1.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adeia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADEA. Hantz Financial Services Inc. raised its position in shares of Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares during the period. IFP Advisors Inc bought a new stake in shares of Adeia during the 3rd quarter worth about $28,000. Quarry LP grew its stake in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares during the last quarter. CWM LLC grew its stake in Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the period. 97.36% of the stock is owned by institutional investors.

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.