ADEA Stock Summary and Trading Ideas (Adeia | NASDAQ:ADEA)

Adeia Inc is a consumer and entertainment product/solutions licensing company. Its only operating segment being Intellectual Property Licensing (IP). In the IP segment, it primarily license innovations to leading companies in the broader entertainment industry, and those developing new technologies that will help drive this industry forward. It includes Pay-TV, Consumer Electronics, Connected Car, and Media Platform.

Adeia trades on the NASDAQ stock market under the symbol ADEA.

As of April 15, 2024, ADEA stock price declined to $10.19 with 453,431 million shares trading.

ADEA has a beta of 1.20, meaning it tends to be more sensitive to market movements. ADEA has a correlation of 0.09 to the broad based SPY ETF.

ADEA has a market cap of $1.11 billion. This is considered a Small Cap stock.

Last quarter Adeia reported $87 million in Revenue and $.27 earnings per share. This fell short of revenue expectation by $-2 million and exceeded earnings estimates by $.02.

The top ETF exchange traded funds that ADEA belongs to (by Net Assets): CALF, VTI, VB, VGT, IWM.

ADEA has outperformed the market in the last year with a return of +30.5%, while the SPY ETF gained +23.9%. However, in the most recent history, ADEA shares have underperformed the stock market with its stock returning -9.3% in the last 3 month period and -5.6% for the last 2 week period, while SPY has returned +6.2% and -3.4%, respectively.

ADEA support price is $10.01 and resistance is $10.39 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ADEA stock will trade within this expected range on the day.