The stock of Adeia Inc. (NASDAQ:ADEA) increased by $0.04 on Friday to finish at $10.16, up 0.35 percent. The last five days have seen an average of 862,380 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $0.68. The average number of shares traded over the last 20 days was 547,285, while the average volume over the last 50 days totaled 612,054.
ADEA stock dropped -13.68% since last month. On 08/08/23, the company’s shares reached a one-month low of $9.59. The stock touched a high of $12.37 on 08/01/23, after rallying from a low of $3.73 in 52 weeks. The price of ADEA stock has risen by 7.17% or $0.68 this year, reaching a new high 15 times. Still, the stock price is down -17.87% from the 52-week high.
Valuation Metrics
Adeia Inc. (ADEA) has a trailing price-to-earnings (P/E) ratio of 10.89. Beta for the stock is 1.84. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.75, the price-to-book (PB) ratio of 3.35.
Company paid $0.05 per share in dividends, remained unchanged from $0.05 last year.
Financial Health
For the three months ended June 29, Adeia Inc.’s current ratio was 2.30. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.83, and the total debt to equity ratio is 1.94. As far as profitability goes, gross margin for the trailing twelve months is 92.00% percent. Based on annual data, it had gross profit of $438.93 million and revenue of $438.93 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a 17.70% return on investment (ROI) in the past year.
Earnings Surprise
According to Adeia Inc.’s quarterly financial report for the quarter that ended June 29, it had $591.48 million in total debt versus $23.84 million in cash and short-term investments. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $83.22 million, while revenues fell by -181.21% to $117.31 million. It was predicted that Adeia Inc.’s quarterly earnings would be $0.26, but it ended up being $0.25, beating the consensus by 4.00%. EBITDA was $42.83 million for the quarter. At the end of Adeia Inc.’s most recent quarter ended June 29, its liabilities totaled 799.59 million, while its total debt was $633.77 million. Equity owned by shareholders amounts to $106.75 million.
Technical Picture
Here’s a quick look at Adeia Inc.’s (ADEA) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 27.22%, suggesting the stock is oversold, with a 78.71% historical volatility rate.
The stochastic %K and %D were 20.62% and 20.17% respectively, while the average true range (ATR) was 0.44. Based on the 14-day stochastic reading of 20.50%, the RSI (14) reading is 34.07%. On the 9-day MACD Oscillator, the stock is at -0.96, and the 14-day reading is at -1.22.
Analyst Ratings
Analysts have assigned Adeia Inc. (ADEA) an Buy rating. ADEA is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 2 others recommend it as a buy.
What is ADEA’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $17.00, with a median target price of $16.00. In analyzing these forecasts, the average price target given by analysts for Adeia Inc. (ADEA) is $15.67.
