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Adeia (ADEA) Flat As Market Gains: What You Should Know
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In the latest market close, Adeia (ADEA - Free Report) reached $11.80, with no movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
The provider of chip technology for small electronic devices's shares have seen an increase of 14.34% over the last month, surpassing the Business Services sector's gain of 2.21% and the S&P 500's gain of 3.4%.
The investment community will be closely monitoring the performance of Adeia in its forthcoming earnings report. The company is expected to report EPS of $0.26, down 36.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.23 million, down 13.61% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Adeia. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adeia is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Adeia is presently trading at a Forward P/E ratio of 8.31. This denotes a discount relative to the industry's average Forward P/E of 23.56.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Adeia (ADEA) Flat As Market Gains: What You Should Know
In the latest market close, Adeia (ADEA - Free Report) reached $11.80, with no movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
The provider of chip technology for small electronic devices's shares have seen an increase of 14.34% over the last month, surpassing the Business Services sector's gain of 2.21% and the S&P 500's gain of 3.4%.
The investment community will be closely monitoring the performance of Adeia in its forthcoming earnings report. The company is expected to report EPS of $0.26, down 36.59% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $89.23 million, down 13.61% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Adeia. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Adeia is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Adeia is presently trading at a Forward P/E ratio of 8.31. This denotes a discount relative to the industry's average Forward P/E of 23.56.
The Technology Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.