10 Cheap Software Stocks to Buy According to Analysts

8. Adeia Inc. (NASDAQ:ADEA)

Forward P/E Ratio: 10.35

Analyst Upside: 22.53%

Adeia Inc. (NASDAQ:ADEA) is a leading research and development business that accelerates the adoption of innovative technologies in the media, entertainment, and semiconductor sectors. It operates as a licensing company, licensing its ideas under the Adeia brand.

On February 19, Rosenblatt Securities raised the price target for Adeia Inc. (NASDAQ:ADEA) from $18 to $20 while maintaining a Buy rating on the company’s shares. The boost came after Adeia announced a solid fourth-quarter 2024 performance that exceeded expectations. A highlight of the quarter was the quick completion of a semiconductor hybrid bonding licensing agreement, which took only six months to conclude.

Adeia’s non-PayTV income also increased significantly, rising 18% year on year in 2024. This increase is especially important since it helps to offset the continued drop of PayTV subscribers, which is a trend across the industry. Furthermore, the company recently extended its intellectual property license arrangement with South Korea’s LG U+, assuring ongoing access to Adeia’s broad media library.