Fintel reports that on August 8, 2023, Stephens & Co. reiterated coverage of Adeia (NASDAQ:ADEA) with a Overweight recommendation.
Analyst Price Forecast Suggests 36.82% Upside
As of August 2, 2023, the average one-year price target for Adeia is 15.98. The forecasts range from a low of 14.14 to a high of $17.85. The average price target represents an increase of 36.82% from its latest reported closing price of 11.68.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adeia is 422MM, an increase of 58.00%. The projected annual non-GAAP EPS is 1.39.
What is the Fund Sentiment?
There are 508 funds or institutions reporting positions in Adeia. This is an increase of 27 owner(s) or 5.61% in the last quarter. Average portfolio weight of all funds dedicated to ADEA is 0.11%, a decrease of 5.92%. Total shares owned by institutions increased in the last three months by 5.08% to 120,007K shares. 
The put/call ratio of ADEA is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
Ameriprise Financial holds 12,221K shares representing 11.49% ownership of the company. In it's prior filing, the firm reported owning 12,113K shares, representing an increase of 0.88%. The firm decreased its portfolio allocation in ADEA by 9.79% over the last quarter.
SLMCX - Columbia Seligman Communications and Information Fund holds 7,077K shares representing 6.65% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 7,007K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 6,854K shares, representing an increase of 2.18%. The firm decreased its portfolio allocation in ADEA by 7.16% over the last quarter.
Rubric Capital Management holds 4,593K shares representing 4.32% ownership of the company. In it's prior filing, the firm reported owning 4,619K shares, representing a decrease of 0.58%. The firm decreased its portfolio allocation in ADEA by 44.74% over the last quarter.
Neuberger Berman Group holds 3,256K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 3,219K shares, representing an increase of 1.11%. The firm decreased its portfolio allocation in ADEA by 10.82% over the last quarter.
Adeia Background Information
(This description is provided by the company.)
Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS, HD Radio, IMAX Enhanced, Invensas, TiVo), and by its startup, Perceive, make entertainment more entertaining, and smart devices smarter. Xperi technologies are integrated into billions of consumer devices, media platforms, and semiconductors worldwide, driving increased value for partners, customers and consumers.
Additional reading:
- ADEIA ANNOUNCES SECOND QUARTER 2023 FINANCIAL RESULTS Achieved over $200 million of revenue for first half of 2023 Closed nine deals in the quarter Paid down $114 million of debt since separation
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- ADEIA ANNOUNCES FIRST QUARTER 2023 FINANCIAL RESULTS New deal wins drive strong financial performance Paid down $94 million of debt since separation
- Composite Amended and Restated Certificate of Incorporation of the Registrant
- Description of the Registrant's capital stock registered under section 12 of the Securities Exchange Act of 1934.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
