Adeia's Fair Value Increases to $22.75 Amid Renewed Confidence and Caution

Adeia's fair value has been revised to $22.75, with a lower discount rate of 9.06% and trimmed revenue growth assumption of 5.95%. This reflects investors weighing steady semiconductor licensing progress against ongoing litigation and timing uncertainties around chiplet-related revenue. Roth Capital maintains a Buy rating and sets a $27 price target, citing execution in recurring semi licensing and the consistency of the hybrid bonding roadmap.