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Adeia (ADEA) Flat As Market Gains: What You Should Know
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Adeia (ADEA - Free Report) ended the recent trading session at $12.53, demonstrating no swing from the preceding day's closing price. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq appreciated by 1.74%.
Heading into today, shares of the provider of chip technology for small electronic devices had gained 2.12% over the past month, lagging the Business Services sector's gain of 3.12% and the S&P 500's gain of 2.93% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adeia in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. The company's upcoming EPS is projected at $0.26, signifying a 36.59% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $89.23 million, down 13.61% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Adeia. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Adeia boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Adeia currently has a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average 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 86, positioning it in the top 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 Gains: What You Should Know
Adeia (ADEA - Free Report) ended the recent trading session at $12.53, demonstrating no swing from the preceding day's closing price. This change lagged the S&P 500's 1.07% gain on the day. Elsewhere, the Dow saw an upswing of 0.35%, while the tech-heavy Nasdaq appreciated by 1.74%.
Heading into today, shares of the provider of chip technology for small electronic devices had gained 2.12% over the past month, lagging the Business Services sector's gain of 3.12% and the S&P 500's gain of 2.93% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Adeia in its upcoming earnings disclosure. The company's earnings report is set to go public on February 20, 2024. The company's upcoming EPS is projected at $0.26, signifying a 36.59% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $89.23 million, down 13.61% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Adeia. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Adeia boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Adeia currently has a Forward P/E ratio of 8.82. This represents a discount compared to its industry's average 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 86, positioning it in the top 35% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.