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Adeia (ADEA) Flat As Market Sinks: What You Should Know
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Adeia (ADEA - Free Report) ended the recent trading session at $12.13, demonstrating no swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the provider of chip technology for small electronic devices had lost 3.35% over the past month, lagging the Business Services sector's gain of 1.03% and the S&P 500's gain of 3.05% in that time.
The upcoming earnings release of Adeia will be of great interest to investors. The company is predicted to post an EPS of $0.26, indicating a 36.59% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $89.23 million, down 13.61% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained stagnant within the past month. At present, Adeia boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Adeia has a Forward P/E ratio of 8.54 right now. This indicates a discount in contrast to its industry's Forward P/E of 24.17.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Adeia (ADEA) Flat As Market Sinks: What You Should Know
Adeia (ADEA - Free Report) ended the recent trading session at $12.13, demonstrating no swing from the preceding day's closing price. This change was narrower than the S&P 500's 0.07% loss on the day. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the provider of chip technology for small electronic devices had lost 3.35% over the past month, lagging the Business Services sector's gain of 1.03% and the S&P 500's gain of 3.05% in that time.
The upcoming earnings release of Adeia will be of great interest to investors. The company is predicted to post an EPS of $0.26, indicating a 36.59% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $89.23 million, down 13.61% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Adeia. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained stagnant within the past month. At present, Adeia boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Adeia has a Forward P/E ratio of 8.54 right now. This indicates a discount in contrast to its industry's Forward P/E of 24.17.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 66, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.