Adeia (NASDAQ:ADEA) Stock Rating Lowered by Zacks Research

Adeia (NASDAQ:ADEA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

ADEA has been the topic of several other reports. Rosenblatt Securities reduced their price objective on Adeia from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings lowered shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Finally, BWS Financial reissued a “buy” rating and set a $50.00 target price on shares of Adeia in a report on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Adeia Stock Performance

NASDAQ ADEA opened at $15.50 on Thursday. Adeia has a 52-week low of $11.61 and a 52-week high of $34.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The company has a fifty day moving average of $23.48 and a 200-day moving average of $25.42. The company has a market capitalization of $1.71 billion, a P/E ratio of 13.51 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, November 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). Adeia had a return on equity of 36.32% and a net margin of 25.04%. The business had revenue of $80.19 million for the quarter, compared to analysts’ expectations of $98.88 million. As a group, equities research analysts predict that Adeia will post 1.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Adeia

A number of institutional investors and hedge funds have recently modified their holdings of ADEA. BlackRock Inc. acquired a new stake in Adeia in the 2nd quarter valued at approximately $573,267,000. The Manufacturers Life Insurance Company bought a new position in Adeia during the 2nd quarter worth about $46,004,000. Deutsche Bank AG bought a new position in Adeia in the second quarter valued at approximately $34,520,000. Bank of New York Mellon Corp bought a new stake in shares of Adeia in the 2nd quarter worth $34,425,000. Finally, Bank of America Corp DE bought a new position in Adeia during the 2nd quarter valued at approximately $23,679,000. 97.36% of the stock is owned by institutional investors.

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.