Rosenblatt raised the firm’s price target on Adeia (ADEA) to $20 from $18 and keeps a Buy rating on the shares. Adeia reported a “solid beat” to Q4 estimates and closed a semiconductor hybrid bonding license at the end of the quarter, the analyst tells investors in a research note. The firm sees Adeia’s hybrid bonding intellectual property as “critically important” as the semiconductor industry moves to chiplets to help deliver Moore’s Law type of benefits. This offsets the secular decline in pay TV subscribers, contends Rosenblatt.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADEA: