Adeia Inc. (NASDAQ:ADEA) Receives $22.00 Average Price Target from Brokerages

Shares of Adeia Inc. (NASDAQ:ADEA) have earned a consensus rating of “Buy” from the six research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.00.

A number of research analysts have weighed in on ADEA shares. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Rosenblatt Securities upped their target price on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Maxim Group increased their target price on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Finally, BWS Financial boosted their price target on shares of Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, December 29th.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in shares of Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after purchasing an additional 448,274 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Adeia by 110.7% during the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock valued at $10,644,000 after purchasing an additional 395,462 shares during the last quarter. Jane Street Group LLC grew its stake in Adeia by 1,193.2% in the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after buying an additional 321,976 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Adeia in the 3rd quarter worth $3,353,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Adeia during the 3rd quarter valued at $3,342,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 1.1%

Shares of ADEA stock opened at $18.96 on Monday. The company’s fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $15.07. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72. Adeia has a 1 year low of $10.59 and a 1 year high of $19.26. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 29.17 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Adeia had a return on equity of 29.36% and a net margin of 19.32%.The company had revenue of $87.34 million during the quarter, compared to the consensus estimate of $99.24 million. As a group, analysts anticipate that Adeia will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.20 annualized dividend and a yield of 1.1%. Adeia’s dividend payout ratio (DPR) is currently 30.77%.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.