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Adeia (ADEA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Adeia (ADEA - Free Report) ended the recent trading session at $8.45, demonstrating a -0.94% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.5%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the provider of chip technology for small electronic devices had lost 12.87% over the past month. This has lagged the Business Services sector's loss of 3.37% and the S&P 500's loss of 2.4% in that time.
The investment community will be paying close attention to the earnings performance of Adeia in its upcoming release. In that report, analysts expect Adeia to post earnings of $0.26 per share. This would mark a year-over-year decline of 16.13%. At the same time, our most recent consensus estimate is projecting a revenue of $89.63 million, reflecting a 57.51% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.30 per share and a revenue of $387.7 million, indicating changes of -36.27% and -51.88%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.51% lower within the past month. Adeia is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Adeia currently has a Forward P/E ratio of 6.56. For comparison, its industry has an average Forward P/E of 23.33, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Adeia (ADEA) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Adeia (ADEA - Free Report) ended the recent trading session at $8.45, demonstrating a -0.94% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.5%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the provider of chip technology for small electronic devices had lost 12.87% over the past month. This has lagged the Business Services sector's loss of 3.37% and the S&P 500's loss of 2.4% in that time.
The investment community will be paying close attention to the earnings performance of Adeia in its upcoming release. In that report, analysts expect Adeia to post earnings of $0.26 per share. This would mark a year-over-year decline of 16.13%. At the same time, our most recent consensus estimate is projecting a revenue of $89.63 million, reflecting a 57.51% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.30 per share and a revenue of $387.7 million, indicating changes of -36.27% and -51.88%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.51% lower within the past month. Adeia is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Adeia currently has a Forward P/E ratio of 6.56. For comparison, its industry has an average Forward P/E of 23.33, which means Adeia is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.