Adeia (NASDAQ:ADEA) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

by · The Markets Daily

Adeia (NASDAQ:ADEA – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07, Zacks reports. Adeia had a return on equity of 29.36% and a net margin of 19.32%.

Adeia Price Performance

Shares of ADEA traded down $0.53 during midday trading on Monday, reaching $18.48. The stock had a trading volume of 1,638,121 shares, compared to its average volume of 822,991. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 28.43 and a beta of 1.44. The company’s 50-day moving average is $17.81 and its 200 day moving average is $16.00. Adeia has a 12-month low of $10.59 and a 12-month high of $20.33.

Analyst Ratings Changes

A number of brokerages recently issued reports on ADEA. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. UBS Group set a $20.00 price objective on shares of Adeia in a research note on Tuesday, December 23rd. BWS Financial boosted their target price on shares of Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a report on Monday, December 29th. Rosenblatt Securities boosted their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Roth Mkm reissued a “buy” rating on shares of Adeia in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $22.00.

View Our Latest Stock Analysis on Adeia

Institutional Trading of Adeia

Several hedge funds and other institutional investors have recently bought and sold shares of ADEA. Quarry LP raised its stake in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Adeia during the 3rd quarter valued at $28,000. Osaic Holdings Inc. raised its position in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares during the period. Quadrant Capital Group LLC bought a new stake in Adeia in the third quarter worth $142,000. Finally, Creative Planning bought a new stake in Adeia in the second quarter worth $144,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

(Get Free Report)

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.

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