Adeia price target raised to $35 from $28 at Maxim

Maxim raised the firm’s price target on Adeia (ADEA) to $35 from $28 and keeps a Buy rating on the shares. The firm cites the company’s Q1 earnings beat while noting that its licensing momentum and balance sheet are strengthening, the analyst tells investors in a research note. The company highlighted continued momentum licensing into core markets and technologies, with three new licensees signed in Q1 including Microsoft (MSFT) and Advanced Micro Devices (AMD), Maxim added.