Adeia near license deal with large semi company, says Rosenblatt

Rosenblatt expects Adeia (ADEA) to report in-line Q4 results with a slight guidance beat. The company’s license agreement with Amazon (AMZN) could spark more interest from over-the-top players, and its Neiman-Marcus deal is opening the door to many e-commerce license opportunities, the analyst tells investors in a research note. Further, Rosenblatt believes Adeia is near landing a license agreement with a “large semiconductor company.” It is expecting the company’s new license agreement momentum to accelerate in both media and semiconductors. The firm keeps a Buy rating on the shares with an $18 price target The stock in morning trading is up 7c to $13.35.