As of Friday close, Adeia Inc.’s (NASDAQ:ADEA) stock was down -$0.17, moving down -1.69 percent to $9.90. The average number of shares traded per day over the past five days has been 489,920 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.26 fall in that time frame. In the last twenty days, the average volume was 557,935, while in the previous 50 days, it was 595,574.
Since last month, ADEA stock retreated -14.21%. Shares of the company fell to $9.59 on 08/08/23, the lowest level in the past month. A 52-week high of $12.37 was reached on 08/01/23 after having rallying from a 52-week low of $3.73. Since the beginning of this year, ADEA’s stock price has risen by 4.43% or $0.42, and marked a new high 15 times. However, the stock has declined by -19.97% since its 52-week high.
Valuation Metrics
Right now, Adeia Inc. (ADEA) has a P/E ratio of about 10.61. The stock’s beta is 1.84. Besides these, the trailing price-to-sales (P/S) ratio of 2.68, the price-to-book (PB) ratio of 3.27.
The latest dividend of $0.05 per share was paid out, remained unchanged from last year’s $0.05.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.83, and the total debt-to-equity ratio was 1.94. On the profitability front, the trailing twelve-month gross margin is 92.00% percent. Based on annual data, ADEA earned $438.93 million in gross profit and brought in $438.93 million in revenue.
In Adeia Inc.’s quarter-end financial report for June 29, it reported total debt of $591.48 million against cash and short-term investments of $23.84 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. ADEA’s revenue fell -181.21% to $117.31 million during the quarter, while net income inched up to $83.22 million. While analysts expected Adeia Inc. to report $0.25 quarterly earnings, the actual figure was $0.26 per share, beating the consensus estimate by 4.00%. During the quarter, the company generated $42.83 million in EBITDA. The liabilities of Adeia Inc. were 799.59 million at the end of its most recent quarter ended June 29, and its total debt was $633.77 million. The value of shareholders’ equity is $106.75 million.
Technical Picture
This quick technical analysis looks at Adeia Inc.’s (ADEA) price momentum. With a historical volatility rate of 74.98%, the RSI 9-day stood at 25.42% on 18 August.
With respect to its five-day moving average, the current Adeia Inc. price is down by -2.56% percent or -$0.26. At present, ADEA shares trade -14.58% below its 20-day simple moving average and +17.86% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.52% below its SMA50 and -11.45% below its SMA200.
Stochastic coefficient K was 16.19% and Stochastic coefficient D was 17.79%, while ATR was 0.37. Given the Stochastic reading of 11.15% for the 14-day period, the RSI (14) reading has been calculated as 31.99%. As of today, the MACD Oscillator reading stands at -0.05, while the 14-day reading stands at -0.70.
Analyst Ratings
Adeia Inc. (ADEA) has been rated Buy by analysts. According to 0 brokerage firms, ADEA is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Adeia Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $16.00, the current consensus forecast for the stock is $14.00 – $17.00. Based on these forecasts, analysts predict Adeia Inc. (ADEA) will achieve an average price target of $15.67.
