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Adeia (ADEA) Outpaces Stock Market Gains: What You Should Know
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Adeia (ADEA - Free Report) closed the latest trading day at $11.41, indicating a +1.42% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Coming into today, shares of the provider of chip technology for small electronic devices had lost 4.58% in the past month. In that same time, the Business Services sector lost 0.21%, while the S&P 500 gained 0.94%.
Investors will be eagerly watching for the performance of Adeia in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.26, signifying a 36.59% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $89.23 million, down 13.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Adeia. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has remained steady. Currently, Adeia is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 7.92. This signifies a discount in comparison to the average Forward P/E of 22.75 for its industry.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Adeia (ADEA) Outpaces Stock Market Gains: What You Should Know
Adeia (ADEA - Free Report) closed the latest trading day at $11.41, indicating a +1.42% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Coming into today, shares of the provider of chip technology for small electronic devices had lost 4.58% in the past month. In that same time, the Business Services sector lost 0.21%, while the S&P 500 gained 0.94%.
Investors will be eagerly watching for the performance of Adeia in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.26, signifying a 36.59% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $89.23 million, down 13.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Adeia. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has remained steady. Currently, Adeia is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Adeia is currently being traded at a Forward P/E ratio of 7.92. This signifies a discount in comparison to the average Forward P/E of 22.75 for its industry.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 67, which puts it in the top 27% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.