Adeia selloff this morning a buying opportunity, says Roth Capital

Roth Capital views the post-earnings selloff today in shares of Adeia (ADEA) as a buying opportunity. The company’s litigation against AMD (AMD) brings questions around the timing of its semi logic chiplet licensing for the data center and artificial intelligence. the analyst tells investors in a research note. Roth sees this morning’s update bring trading confusion ahead of more clarity on the earnings call. While Adeia is taking a “near-term credibility hit,” the company’s sequential recurring growth in semis and “unchanged hybrid-bonding story” remains attractive, Roth contends. It keeps a Buy rating on the shares with a $27 price target.