Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on Adeia and keeping the price target at $18.00.
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Hamed Khorsand has given his Buy rating due to a combination of factors, including Adeia’s strategic moves in renewing licenses and its potential for securing additional agreements. The company has shown progress by announcing several renewals in the third quarter, which is expected to be detailed further in their upcoming results.
Furthermore, Adeia is actively pursuing new opportunities in the semiconductor and ecommerce sectors, which could significantly boost its revenue streams. The company’s focus on using free cash flow to reduce its debt burden is also seen as a positive step towards enhancing shareholder value.
According to TipRanks, Khorsand is a 5-star analyst with an average return of 14.9% and a 58.11% success rate. Khorsand covers the Technology sector, focusing on stocks such as Adeia, Ubiquiti Networks, and Xperi Inc.