BWS Financial Reiterates “Buy” Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating restated by investment analysts at BWS Financial in a report issued on Monday,Benzinga reports. They presently have a $16.00 target price on the stock. BWS Financial’s price objective would indicate a potential upside of 24.32% from the company’s current price.

Separately, Rosenblatt Securities increased their target price on shares of Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Adeia Stock Performance

Shares of ADEA opened at $12.87 on Monday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 35.75 and a beta of 1.39. The company’s fifty day moving average is $13.10 and its 200-day moving average is $12.23. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia has a 12 month low of $9.68 and a 12 month high of $14.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Algert Global LLC bought a new stake in Adeia during the second quarter valued at about $122,000. Hohimer Wealth Management LLC bought a new position in shares of Adeia in the third quarter worth about $190,000. Seizert Capital Partners LLC acquired a new position in shares of Adeia during the 3rd quarter worth about $197,000. Zacks Investment Management boosted its stake in Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after purchasing an additional 5,902 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Adeia in the 3rd quarter valued at approximately $253,000. 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.