Rosenblatt Securities Raises Adeia (NASDAQ:ADEA) Price Target to $18.00

Adeia (NASDAQ:ADEA) had its price objective lifted by Rosenblatt Securities from $15.00 to $18.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 25.17% from the stock’s previous close.

Separately, BWS Financial reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Wednesday, December 4th.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $14.38 on Thursday. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $1.57 billion, a PE ratio of 39.94 and a beta of 1.42. Adeia has a twelve month low of $9.68 and a twelve month high of $14.50. The company has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.84.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Adeia during the second quarter valued at approximately $227,000. Wedge Capital Management L L P NC increased its holdings in shares of Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after purchasing an additional 875 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Adeia by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after buying an additional 1,500 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Adeia by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,211,230 shares of the company’s stock valued at $13,548,000 after buying an additional 17,229 shares during the period. Finally, Skylands Capital LLC grew its position in Adeia by 99.7% during the second quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock worth $2,327,000 after buying an additional 103,817 shares in the last quarter. 97.36% of the stock is currently 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.