We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Adeia (ADEA) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Adeia (ADEA - Free Report) closed at $10.73, marking a +0.47% move from the previous day. This change outpaced the S&P 500's 0.01% gain on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Heading into today, shares of the provider of chip technology for small electronic devices had gained 6.69% over the past month, outpacing the Business Services sector's loss of 4.6% and the S&P 500's loss of 4.45% in that time.
Investors will be hoping for strength from Adeia as it approaches its next earnings release. In that report, analysts expect Adeia to post earnings of $0.29 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.37 per share and revenue of $403.89 million. These totals would mark changes of -32.84% and -49.87%, respectively, from last year.
Any recent changes to analyst estimates for Adeia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Adeia currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Adeia currently has a Forward P/E ratio of 7.8. For comparison, its industry has an average Forward P/E of 22.89, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Adeia (ADEA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Adeia (ADEA - Free Report) closed at $10.73, marking a +0.47% move from the previous day. This change outpaced the S&P 500's 0.01% gain on the day. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Heading into today, shares of the provider of chip technology for small electronic devices had gained 6.69% over the past month, outpacing the Business Services sector's loss of 4.6% and the S&P 500's loss of 4.45% in that time.
Investors will be hoping for strength from Adeia as it approaches its next earnings release. In that report, analysts expect Adeia to post earnings of $0.29 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.37 per share and revenue of $403.89 million. These totals would mark changes of -32.84% and -49.87%, respectively, from last year.
Any recent changes to analyst estimates for Adeia should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Adeia currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Adeia currently has a Forward P/E ratio of 7.8. For comparison, its industry has an average Forward P/E of 22.89, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.