Adeia (NASDAQ:ADEA) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $15.00 price objective on the stock.

Separately, BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research report on Thursday, September 26th.

Adeia Price Performance

ADEA stock opened at $11.52 on Friday. The stock’s 50 day moving average price is $12.13 and its 200 day moving average price is $11.58. The firm has a market cap of $1.25 billion, a P/E ratio of 32.00 and a beta of 1.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. Adeia has a 1 year low of $8.94 and a 1 year high of $14.24.

Hedge Funds Weigh In On Adeia

Institutional investors and hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC grew its stake in Adeia by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after acquiring an additional 875 shares during the period. Gallacher Capital Management LLC increased its stake in Adeia by 5.2% in the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after purchasing an additional 1,186 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in Adeia by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock worth $1,024,000 after buying an additional 1,215 shares during the period. Illinois Municipal Retirement Fund lifted its position in Adeia by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock worth $687,000 after buying an additional 1,420 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Adeia by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock worth $236,000 after buying an additional 1,483 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.