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Adeia (ADEA) Gains As Market Dips: What You Should Know
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Adeia (ADEA - Free Report) closed the most recent trading day at $10, moving +0.81% from the previous trading session. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the provider of chip technology for small electronic devices had gained 0.1% in the past month. In that same time, the Business Services sector lost 4.95%, while the S&P 500 gained 2.08%.
Adeia will be looking to display strength as it nears its next earnings release. On that day, Adeia is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 6.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $97.38 million, down 53.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.37 per share and revenue of $403.89 million, which would represent changes of -32.84% and -49.87%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Adeia. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adeia is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Adeia has a Forward P/E ratio of 7.24 right now. This valuation marks a discount compared to its industry's average Forward P/E of 23.41.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADEA in the coming trading sessions, be sure to utilize Zacks.com.
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Adeia (ADEA) Gains As Market Dips: What You Should Know
Adeia (ADEA - Free Report) closed the most recent trading day at $10, moving +0.81% from the previous trading session. This change outpaced the S&P 500's 0.22% loss on the day. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the provider of chip technology for small electronic devices had gained 0.1% in the past month. In that same time, the Business Services sector lost 4.95%, while the S&P 500 gained 2.08%.
Adeia will be looking to display strength as it nears its next earnings release. On that day, Adeia is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 6.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $97.38 million, down 53.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.37 per share and revenue of $403.89 million, which would represent changes of -32.84% and -49.87%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Adeia. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adeia is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Adeia has a Forward P/E ratio of 7.24 right now. This valuation marks a discount compared to its industry's average Forward P/E of 23.41.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADEA in the coming trading sessions, be sure to utilize Zacks.com.