SAN JOSE, Calif., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (NASDAQ:ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Paramount has renewed a multi-year license agreement for Adeia's media intellectual property (IP) portfolio. Paramount+ continues to be one of the fastest growing streaming services and in the third quarter of 2023 Paramount+ reported over 63M subscribers. Beyond its strong subscription operations, Paramount ...

Part I [Business](index=4&type=section&id=Item%201.%20Business) Adeia Inc. is an intellectual property (IP) licensing company focused on the entertainment, media, consumer electronics, and semiconductor industries, holding approximately 10,950 patent assets globally, with a business model based on licensing these innovations - Adeia operates as an **innovation incubator and IP licensing platform** for the media, entertainment, consumer electronics, and semiconductor industries[10](index=10&type=chunk) - As of **December 31, 2023**, the company's IP portfolio consists of approximately **10,950 media and semiconductor patent assets** worldwide[13](index=13&type=chunk)[28](index=28&type=chunk) - On **October 1, 2022**, the company separated from its product business, which became the independent, publicly-traded Xperi Inc. Adeia retained the IP licensing business[14](index=14&type=chunk) - The company's strategy focuses on expanding licensing in high-growth areas like **Over-the-Top (OTT) video**, accelerating the semiconductor business (especially in **hybrid bonding**), and entering adjacent markets such as **ad-tech, automotive, and gaming**[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk) - As of **December 31, 2023**, Adeia had approximately **130 full-time employees**, located almost entirely in the U.S[30](index=30&type=chunk) [Risk Factors](index=11&type=section&id=Item%201A.%20Risk%20Factors) The company faces risks from the 2022 Separation, business operations (patent strength, license renewals, litigation), financial (debt, interest rates, NOL limitations), regulatory, and common stock ownership - Risks from the Separation include not achieving expected benefits, potential significant tax liabilities if the spin-off fails to qualify for tax-free treatment, and managing indemnified liabilities[37](index=37&type=chunk)[42](index=42&type=chunk)[44](index=44&type=chunk) - Business operations are highly dependent on the strength of the patent portfolio, the ability to renew expiring license agreements on favorable terms, and the necessity of costly litigation to enforce IP rights[38](index=38&type=chunk)[57](index=57&type=chunk)[59](index=59&type=chunk)[66](index=66&type=chunk) - A small number of customers represent a significant portion of revenue, with **four customers accounting for 45.4% of aggregate revenue in 2023**[61](index=61&type=chunk) - The company has significant indebtedness (**$601.3 million as of Dec 31, 2023**), which is subject to floating interest rates, posing a risk of increased debt service costs[96](index=96&type=chunk)[98](index=98&type=chunk) - The ability to use net operating loss carryforwards (**$2.6 million federal, $884.7 million state as of Dec 31, 2023**) to offset future income may be limited by ownership changes under Section 382 of the Code[108](index=108&type=chunk) [Unresolved Staff Comments](index=29&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) Not applicable - Not applicable[129](index=129&type=chunk) [Cybersecurity](index=29&type=section&id=Item%201C.%20Cybersecurity) Adeia's cybersecurity risk management is integrated into its overall risk program, based on NIST and ISO frameworks, with Board oversight delegated to the Audit Committee and led by the VP of IT - The company's cybersecurity program is based on industry frameworks like **NIST and ISO**, with regular employee training and simulated phishing attacks[129](index=129&type=chunk) - The Board of Directors has oversight responsibility, which it has delegated to the Audit Committee. The VP of Information Technology, with over **25 years of experience**, has primary day-to-day oversight[130](index=130&type=chunk)[131](index=131&type=chunk) - Adeia engages **third-party assessors for penetration testing** and has retained an **outside cybersecurity firm for managed security services**[129](index=129&type=chunk)[130](index=130&type=chunk) [Properties](index=30&type=section&id=Item%202.%20Properties) The company leases its 62,000 sq ft corporate headquarters in San Jose, CA, and smaller offices in Burbank, CA, and Morrisville, NC, which are deemed adequate - The company leases its **62,000 sq ft corporate headquarters in San Jose, CA**, and additional offices in **Burbank, CA**, and **Morrisville, NC**[132](index=132&type=chunk) [Legal Proceedings](index=30&type=section&id=Item%203.%20Legal%20Proceedings) Adeia is involved in several legal proceedings to enforce patent rights, including infringement cases against Videotron, Bell Canada, and Telus, and breach of contract cases against Shaw Cablesystems and X Corporation - The company is appealing an unfavorable decision in its patent infringement case against Videotron in Canada. A hearing was held in **November 2023**, and a decision is pending[135](index=135&type=chunk) - Adeia is also appealing an unfavorable decision in its patent infringement cases against Bell and Telus in Canada. A hearing was held in **November 2023**, and a decision is pending. The company paid **$2.8 million** for expense reimbursement in **Q2 2023** related to this matter[137](index=137&type=chunk) - In **October 2023**, Adeia filed a breach of contract complaint against Shaw Cablesystems for failure to pay royalties[139](index=139&type=chunk) - In **August 2023**, Adeia filed a breach of contract complaint against X Corp. (formerly Twitter) for failure to pay royalties. X Corp. has since filed a countersuit for declaratory judgment of non-infringement[140](index=140&type=chunk)[141](index=141&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable - Not applicable[141](index=141&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=32&type=section&id=Item%205.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) Adeia Inc.'s common stock trades on Nasdaq under "ADEA", with 355 stockholders of record as of Feb 7, 2024, and the company returns capital via quarterly dividends ($0.05 per share) and a stock repurchase program ($77.8 million remaining as of Dec 31, 2023) - The company's common stock trades on Nasdaq under the ticker **"ADEA"** since **October 3, 2022**, following the spin-off[142](index=142&type=chunk) - The Board has declared a quarterly cash dividend of **$0.05 per share** since **July 2020**[122](index=122&type=chunk) Stock Repurchase Program Status as of Dec 31, 2023 | Metric | Amount (in millions) | | :--- | :--- | | Initial Authorization (June 2020) | $150.0 | | Additional Authorization (April 2021) | $100.0 | | Total Authorization | $250.0 | | Repurchases during 2023 | $0.0 | | Remaining for Repurchase | $77.8 | [Reserved](index=33&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=34&type=section&id=Item%207.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) This section provides management's perspective on Adeia's financial condition and results, detailing the impact of the October 2022 spin-off, revenue decrease in 2023, stable operating expenses, liquidity, and critical accounting policies [Results of Operations](index=36&type=section&id=Results%20of%20Operations) For fiscal year 2023, total revenue decreased by 11.4% to $388.8 million from $438.9 million in 2022, driven by decreases in both non-recurring and recurring revenue, while R&D expenses increased by 22% and SG&A decreased by 30% Revenue Comparison (2021-2023) | Year | Revenue (in thousands) | Change from Prior Year | % Change | | :--- | :--- | :--- | :--- | | 2023 | $388,788 | $(50,145) | (11)% | | 2022 | $438,933 | $47,721 | 12% | | 2021 | $391,212 | - | - | Recurring vs. Non-Recurring Revenue (2022 vs 2023) | Revenue Type | 2023 (in millions) | 2022 (in millions) | Change (in millions) | % Change | | :--- | :--- | :--- | :--- | :--- | | Recurring | $338.7 | $363.6 | $(24.9) | (6.8)% | | Non-recurring | $50.1 | $75.3 | $(25.2) | (33.5)% | Operating Expenses Comparison (2022 vs 2023) | Expense Category | 2023 (in thousands) | 2022 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | Research & Development | $54,264 | $44,579 | 22% | | Selling, General & Administrative | $95,226 | $135,630 | (30)% | | Amortization Expense | $93,735 | $97,077 | (3)% | | Litigation Expense | $9,333 | $8,587 | 9% | - The decrease in **2023** revenue was primarily due to large license agreements with Micron and a consumer electronics/OTT provider recognized in **2022**, partially offset by new agreements with Kioxia, Western Digital, and Samsung in **2023**[166](index=166&type=chunk) [Liquidity and Capital Resources](index=44&type=section&id=Liquidity%20and%20Capital%20Resources) As of December 31, 2023, Adeia held $83.6 million in cash, cash equivalents, and marketable securities, a decrease from $114.6 million at year-end 2022, primarily due to $148.0 million in debt repayments and $21.3 million in dividend payments, offset by $152.8 million in cash from operations Cash Flow Summary (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash from operating activities | $152,755 | $183,023 | | Net cash used in investing activities | $(34,488) | $(2,913) | | Net cash used in financing activities | $(178,262) | $(263,257) | - As of **Dec 31, 2023**, the company had outstanding long-term debt of **$601.3 million**, with **$40.5 million** payable within **12 months**, plus an additional **$29.1 million** excess cash flow payment due[202](index=202&type=chunk) - The company has a guarantee liability of **$18.5 million** as of **Dec 31, 2023**, related to an agreement with a third party entered into prior to the Separation of Xperi Inc[204](index=204&type=chunk) - The stock repurchase plan had **$77.8 million** remaining available as of **Dec 31, 2023**, with no repurchases made during the year[208](index=208&type=chunk) [Critical Accounting Policies and Estimates](index=47&type=section&id=Critical%20Accounting%20Policies%20and%20Estimates) Management identifies revenue recognition and accounting for income taxes as the most critical accounting policies, requiring significant judgment in allocating transaction prices, estimating variable consideration, and assessing deferred tax assets and uncertain tax positions - Revenue recognition requires **significant judgment** in allocating transaction prices for long-term license contracts between past infringement releases and prospective licenses, based on relative standalone selling prices[220](index=220&type=chunk)[223](index=223&type=chunk) - Estimating quarterly royalties before receiving licensee reports requires **significant assumptions** about sales and usage trends, which can materially impact reported revenue[222](index=222&type=chunk) - Accounting for income taxes involves assessing the likelihood of realizing deferred tax assets and establishing valuation allowances, as well as estimating liabilities for uncertain tax positions[224](index=224&type=chunk)[225](index=225&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to interest rate risk from its $601.3 million floating-rate debt (a 1% increase would raise annual interest expense by approximately $5.7 million), investment risk from marketable securities, and bank liquidity risk from $48.8 million in operating accounts - The company has **$601.3 million** in floating-rate debt. A **1%** increase in the effective interest rate would increase annual interest expense by about **$5.7 million**[228](index=228&type=chunk) - The company holds **$29.0 million** in marketable securities, exposing it to investment risk from market value fluctuations[229](index=229&type=chunk) - As of **December 31, 2023**, the company had **$48.8 million** in cash in operating accounts, posing a liquidity risk if the holding institutions were to fail[230](index=230&type=chunk) [Financial Statements and Supplementary Data](index=49&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section indicates that the company's Consolidated Financial Statements and related notes for the three-year period ended December 31, 2023, are provided in Item 15(a)(1) of the Annual Report [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=50&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) Not applicable - Not applicable[233](index=233&type=chunk) [Controls and Procedures](index=50&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of December 31, 2023, and management's report on internal control over financial reporting also concluded effectiveness, which was audited and confirmed by PricewaterhouseCoopers LLP - Management concluded that disclosure controls and procedures were effective as of **December 31, 2023**[236](index=236&type=chunk) - Management assessed internal control over financial reporting as effective as of **December 31, 2023**, based on the COSO framework, an assessment audited and confirmed by PricewaterhouseCoopers LLP[238](index=238&type=chunk) [Other Information](index=51&type=section&id=Item%209B.%20Other%20Information) The company reports no information required to be disclosed in a Form 8-K during Q4 2023 that was not reported, and no directors or officers adopted or terminated a Rule 10b5-1 trading plan during the quarter - No information was required to be disclosed in a Form 8-K during **Q4 2023** that was not already reported[241](index=241&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=51&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) Not applicable - Not applicable[241](index=241&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=52&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) The information required for this item, including details on executive officers, directors, board committees, and Section 16(a) reporting, is incorporated by reference from the company's Proxy Statement for its 2024 Annual Meeting of Stockholders - Information is incorporated by reference from the **2024 Proxy Statement**[242](index=242&type=chunk) [Executive Compensation](index=52&type=section&id=Item%2011.%20Executive%20Compensation) The information required for this item, including the Compensation Discussion and Analysis, executive compensation tables, and the Compensation Committee Report, is incorporated by reference from the company's 2024 Proxy Statement - Information is incorporated by reference from the **2024 Proxy Statement**[243](index=243&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=52&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) The information required for this item, including details on equity compensation plans and security ownership by beneficial owners and management, is incorporated by reference from the company's 2024 Proxy Statement - Information is incorporated by reference from the **2024 Proxy Statement**[243](index=243&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=52&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) The information required for this item, covering related party transactions and director independence, is incorporated by reference from the company's 2024 Proxy Statement - Information is incorporated by reference from the **2024 Proxy Statement**[243](index=243&type=chunk) [Principal Accountant Fees and Services](index=52&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) The information required for this item, detailing fees paid to and services provided by the principal accountant, is incorporated by reference from the company's 2024 Proxy Statement under the caption "Ratification of Appointment of Independent Registered Public Accounting Firm" - Information is incorporated by reference from the **2024 Proxy Statement**[244](index=244&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=53&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section contains the company's consolidated financial statements, the report from the independent registered public accounting firm, financial statement schedules, and a list of all exhibits filed with the Form 10-K [Report of Independent Registered Public Accounting Firm](index=54&type=section&id=Report%20of%20Independent%20Registered%20Public%20Accounting%20Firm) PricewaterhouseCoopers LLP issued an unqualified opinion on Adeia Inc.'s consolidated financial statements and internal control effectiveness, identifying "Revenue Recognition – Allocation of Transaction Price to Performance Obligations" as a Critical Audit Matter - The auditor, PricewaterhouseCoopers LLP, issued an **unqualified (clean) opinion** on the financial statements and the effectiveness of internal controls[248](index=248&type=chunk) - A Critical Audit Matter was identified related to the allocation of transaction price to performance obligations in revenue recognition, highlighting the **significant management judgment required**[254](index=254&type=chunk)[255](index=255&type=chunk) [Consolidated Financial Statements](index=56&type=section&id=Consolidated%20Financial%20Statements) The consolidated financial statements present Adeia's financial position and results, reporting $67.4 million net income on $388.8 million revenues for 2023, with total assets of $1.11 billion and total liabilities of $748.9 million Consolidated Statement of Operations Highlights (Year Ended Dec 31, 2023) | Metric | Amount (in thousands) | | :--- | :--- | | Revenue | $388,788 | | Operating Income from Continuing Operations | $136,230 | | Net Income from Continuing Operations | $67,372 | | Net Income Attributable to the Company | $67,372 | | Diluted EPS from Continuing Operations | $0.60 | Consolidated Balance Sheet Highlights (As of Dec 31, 2023) | Metric | Amount (in thousands) | | :--- | :--- | | Total Current Assets | $205,842 | | Total Assets | $1,105,556 | | Total Current Liabilities | $102,038 | | Long-term Debt, net | $519,550 | | Total Liabilities | $748,934 | | Total Stockholders' Equity | $356,622 | [Notes to Consolidated Financial Statements](index=63&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) The notes provide detailed disclosure on accounting policies and financial statement captions, covering the 2022 spin-off, revenue recognition, goodwill, debt, stock-based compensation, and income tax positions, including a $120.3 million refund claim in South Korea - Revenue is disaggregated by Media (**$343.4 million**) and Semiconductor (**$45.4 million**) for **2023**[326](index=326&type=chunk) - As of **Dec 31, 2023**, the company has **$526.4 million** in remaining revenue to be recognized from unsatisfied performance obligations under existing fixed-fee contracts[333](index=333&type=chunk) - The company has outstanding long-term debt of **$601.3 million** under its Refinanced Term B Loans, maturing in **2028**. The interest rate was **9.9%** as of **Dec 31, 2023**[397](index=397&type=chunk)[402](index=402&type=chunk) - The company has a pending income tax refund claim in South Korea, resulting in a noncurrent income tax receivable of **$120.3 million** as of **Dec 31, 2023**[442](index=442&type=chunk) [Form 10-K Summary](index=116&type=section&id=Item%2016.%20Form%2010-K%20Summary) None - None[474](index=474&type=chunk)

Financial Data and Key Metrics Changes - The company reported revenue of $87 million for Q4 2023, with adjusted EBITDA of $54 million, reflecting strong financial performance [7][22] - Operating expenses for Q4 were $33.2 million, a 7% increase from the prior quarter, driven by higher R&D and SG&A expenses [23] - The company ended Q4 with $83.6 million in cash and generated $39.4 million in cash from operations, while making $29.1 million in principal debt payments [25] Business Line Data and Key Metrics Changes - The company signed eight agreements in Q4, including two new agreements and six renewals, indicating strong deal execution [6][7] - Significant new agreements included a license with a leading international social media company and a renewal with Breezeline, a major Pay-TV operator [7][22] - The company achieved a record growth of over 11% in its patent portfolio during 2023, exceeding its goal of 10% [10] Market Data and Key Metrics Changes - The company is focusing on expanding its presence in the OTT market, which is expected to offset declines in Pay-TV and become a significant revenue contributor [10][13] - The semiconductor market is targeted for growth, with a goal of generating $100 million in annual revenue from this segment [9] Company Strategy and Development Direction - The company aims to achieve $500 million in annual revenue by maintaining its recurring revenue base and penetrating large markets like OTT and semiconductors [13][14] - Strategic investments are being made in R&D, particularly in media and semiconductor portfolios, to support long-term growth [12][28] - A new co-optimization initiative is being launched to enhance the efficiency and cost-effectiveness of existing and future solutions [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2024, highlighting plans for increased investments in R&D and business development to capitalize on growth opportunities [12][31] - The company anticipates revenue for 2024 to be in the range of $380 million to $420 million, with a focus on maintaining high renewal rates and acquiring new customers [26][30] Other Important Information - The company paid a cash dividend of $0.05 per share in Q4 2023, with another dividend scheduled for March 2024 [26] - The company repaid $148 million of its debt in 2023, utilizing 99% of its free cash flow for debt repayments [25] Q&A Session Summary Question: Details on the social media customer license - The company signed a license with a significant international social media company, covering a large portion of the social media market, relevant to video playback and recommendation systems [34] Question: Legal expenses doubling - Legal expenses are expected to return to historical norms, with ongoing litigation contributing to the increase, but the company aims to resolve most issues through negotiated deals [36] Question: Likelihood of signing OTT service providers - The company anticipates continued success in signing OTT service providers in 2024, building on momentum from previous deals [39] Question: Business development and sales activities - The company is expanding resources and expertise in business development, particularly in adjacent markets like semiconductors and OTT, with increased spending expected in 2024 [42][43] Question: Incremental thoughts on Western Digital and Kioxia deals - The company expects to see increased revenue contributions from Western Digital and Kioxia as their product ramps up, indicating long-term growth potential [46]

Financial Performance - Q4 2023 revenue reached $86.9 million, with an adjusted EBITDA of $54.1 million[5, 14] - FY 2023 revenue totaled $388.8 million, with an adjusted EBITDA of $262.3 million[7, 14] - The company paid down $29.1 million on its term loan in Q4 2023[5] - The company paid down $148.0 million on its term loan in FY 2023[7] - FY 2024 revenue is projected to be between $380.0 million and $420.0 million[16] - FY 2024 adjusted EBITDA is projected to be between $232.5 million and $262.5 million[16] Business Highlights - The company closed 8 deals in Q4 2023, including 2 with new customers and 6 renewals[5] - The company signed 32 license agreements in FY 2023[7] - The company's patent portfolio grew over 11% in FY 2023[7] Strategic Focus - The company aims to increase long-term revenue through renewals and new customer agreements[9] - The company is focused on growing its patent portfolio through R&D investment[9] - The company intends to deleverage its balance sheet by paying down its term loan[9]

Group 1 - Adeia (ADEA) closed at $12.95, marking a +0.86% move from the prior day, outperforming the S&P 500's daily gain of 0.06% [1] - Over the previous month, Adeia's shares gained 8.81%, surpassing the Business Services sector's gain of 7.07% and the S&P 500's gain of 6.45% [1] - The upcoming earnings report is scheduled for February 20, 2024, with an expected EPS of $0.26, indicating a 36.59% decline year-over-year, and a revenue forecast of $89.23 million, reflecting a 13.61% decline [1] Group 2 - Recent changes in analyst estimates for Adeia are crucial, as upward revisions indicate analysts' positivity towards the company's operations [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently ranks Adeia at 3 (Hold) [2] - The Zacks Consensus EPS estimate has remained stagnant over the past month [2] Group 3 - Adeia has a Forward P/E ratio of 9.04, which is a discount compared to the industry's average Forward P/E of 23.96 [3] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 92, placing it in the top 37% of over 250 industries [3] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1 according to Zacks research [3]

SANTA CLARA, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Adeia Inc. (NASDAQ:ADEA), the company whose patented innovations enhance billions of devices, today announced that it is showcasing its hybrid bonding technology at the Chiplet Summit on February 6 through 8, 2024, at the Santa Clara Convention Center. Over the past 30 years, Adeia has pioneered fundamental advances in the semiconductor industry. With an extensive and growing portfolio of intellectual property covering hybrid bonding, advanced process n ...

Adeia (ADEA) ended the recent trading session at $12.53, demonstrating no swing from the preceding day's closing price. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq appreciated by 1.74%.Heading into today, shares of the provider of chip technology for small electronic devices had gained 2.12% over the past month, lagging the Business Services sector's gain of 3.12% and the S&P 500's gain of 2.93% in that time.Analysts and inv ...

Adeia (ADEA) ended the recent trading session at $12.13, demonstrating no swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, lost 0.36%.Heading into today, shares of the provider of chip technology for small electronic devices had lost 3.35% over the past month, lagging the Business Services sector's gain of 1.03% and the S&P 500's gain of 3.05% in that time.The upcoming earning ...

Adeia (ADEA) closed the most recent trading day at $12.13, moving -0.41% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.53%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq increased by 0.19%.Coming into today, shares of the provider of chip technology for small electronic devices had lost 2.87% in the past month. In that same time, the Business Services sector gained 0.84%, while the S&P 500 gained 2.48%.The upco ...

Company Overview - Adeia (ADEA) closed at $11.29, a decrease of 0.7% from the previous trading session, underperforming the S&P 500's gain of 0.08% [1] - The company has seen a 3.55% increase in share price over the past month, while the Business Services sector gained 2.13% and the S&P 500 gained 3.52% during the same period [1] Earnings Expectations - The upcoming earnings release is anticipated to show an EPS of $0.26, representing a 36.59% decline compared to the same quarter last year [1] - Revenue is projected to be $89.23 million, reflecting a 13.61% decrease from the equivalent quarter last year [1] Analyst Estimates - Recent changes to analyst estimates for Adeia indicate a shifting business landscape, with positive revisions suggesting optimism about the company's profitability [2] - The Zacks Rank system currently rates Adeia as 3 (Hold), with no changes in the consensus EPS estimate over the past month [2] Valuation Metrics - Adeia's Forward P/E ratio is 8.01, which is significantly lower than the industry's average Forward P/E of 23.63, indicating a valuation discount [3] - The Technology Services industry, part of the Business Services sector, holds a Zacks Industry Rank of 55, placing it in the top 22% of over 250 industries [3]