Adeia (NASDAQ:ADEA) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Adeia (NASDAQ:ADEA) released its quarterly earnings data on Monday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09), FiscalAI reports. The business had revenue of $80.19 million for the quarter, compared to analyst estimates of $98.88 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%.

Adeia Trading Down 3.6%

ADEA stock traded down $0.77 during midday trading on Monday, hitting $20.67. The stock had a trading volume of 2,184,311 shares, compared to its average volume of 1,370,192. The company’s 50-day moving average price is $24.40 and its 200 day moving average price is $25.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. Adeia has a 12-month low of $11.61 and a 12-month high of $34.34. The firm has a market cap of $2.28 billion, a PE ratio of 19.14 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BWS Financial reaffirmed a “buy” rating and issued a $50.00 price target on shares of Adeia in a report on Wednesday, October 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 target price on shares of Adeia in a research report on Tuesday, September 29th. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

About Adeia

Adeia Inc is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacture and packaging of advanced electronic devices. Rather than producing semiconductors itself, the company works with chipmakers, foundries and other industry participants to commercialize its intellectual property.

Adeia’s portfolio includes technologies for three-dimensional semiconductor integration, hybrid bonding, advanced packaging, memory and chip-to-chip connectivity.