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Adeia (ADEA) Stock Slides as Market Rises: Facts to Know Before You Trade
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Adeia (ADEA - Free Report) closed the most recent trading day at $11.29, moving -0.7% from the previous trading session. This change lagged the S&P 500's 0.08% gain on the day. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.02%.
Coming into today, shares of the provider of chip technology for small electronic devices had gained 3.55% in the past month. In that same time, the Business Services sector gained 2.13%, while the S&P 500 gained 3.52%.
The upcoming earnings release of Adeia will be of great interest to investors. It is anticipated that the company will report an EPS of $0.26, marking a 36.59% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $89.23 million, reflecting a 13.61% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Adeia is currently a Zacks Rank #3 (Hold).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 8.01. This represents a discount compared to its industry's average Forward P/E of 23.63.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Adeia (ADEA) Stock Slides as Market Rises: Facts to Know Before You Trade
Adeia (ADEA - Free Report) closed the most recent trading day at $11.29, moving -0.7% from the previous trading session. This change lagged the S&P 500's 0.08% gain on the day. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.02%.
Coming into today, shares of the provider of chip technology for small electronic devices had gained 3.55% in the past month. In that same time, the Business Services sector gained 2.13%, while the S&P 500 gained 3.52%.
The upcoming earnings release of Adeia will be of great interest to investors. It is anticipated that the company will report an EPS of $0.26, marking a 36.59% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $89.23 million, reflecting a 13.61% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Adeia is currently a Zacks Rank #3 (Hold).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 8.01. This represents a discount compared to its industry's average Forward P/E of 23.63.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.