Adeia (NASDAQ:ADEA) Sets New 12-Month High – What’s Next?

Adeia Inc. (NASDAQ:ADEA)’s share price hit a new 52-week high on Wednesday . The company traded as high as $13.60 and last traded at $13.60, with a volume of 99751 shares. The stock had previously closed at $12.79.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of Adeia in a research report on Thursday, October 31st. BWS Financial reiterated a “buy” rating and set a $16.00 price objective on shares of Adeia in a research note on Thursday, September 26th.

Adeia Stock Performance

The stock has a fifty day moving average price of $12.08 and a 200 day moving average price of $11.52. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 31.98 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $87.35 million during the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. As a group, analysts predict that Adeia Inc. will post 1.18 earnings per share for the current year.

Institutional Investors Weigh In On Adeia

A number of hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Adeia during the 2nd quarter worth about $47,000. EMC Capital Management increased its holdings in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares in the last quarter. Algert Global LLC bought a new position in Adeia in the 2nd quarter worth approximately $122,000. Aristides Capital LLC acquired a new position in Adeia during the 1st quarter worth $213,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Adeia by 35.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after buying an additional 5,316 shares during the last quarter. Institutional investors and hedge funds 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.