Adeia Inc. (NASDAQ:ADEA) Stock Has Average Target Price of $37.60 According to Brokerages

Adeia Inc. (NASDAQ:ADEA) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $37.60.

Several research firms have weighed in on ADEA. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. BWS Financial increased their target price on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, September 16th. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Tuesday, August 4th.

Institutional Trading of Adeia

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Adeia in the 2nd quarter worth about $573,267,000. Wellington Management Group LLP lifted its position in Adeia by 4.6% during the 2nd quarter. Wellington Management Group LLP now owns 1,712,143 shares of the company’s stock valued at $56,381,000 after acquiring an additional 75,520 shares during the period. Systematic Financial Management LP boosted its stake in Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Adeia during the second quarter worth about $46,004,000. Finally, Deutsche Bank AG purchased a new stake in Adeia in the second quarter worth about $34,520,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Up 1.9%

Shares of NASDAQ ADEA opened at $25.48 on Friday. The firm has a fifty day simple moving average of $26.59 and a two-hundred day simple moving average of $27.60. Adeia has a 12 month low of $11.61 and a 12 month high of $34.34. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.81 billion, a PE ratio of 23.59 and a beta of 1.38.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The firm had revenue of $96.12 million for the quarter, compared to analyst estimates of $96.79 million. Equities analysts expect that Adeia will post 1.17 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, August 24th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.8%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a semiconductor and intellectual property licensing company. It develops and licenses technologies that help semiconductor manufacturers and electronics companies design and produce advanced chips and systems.

The company’s portfolio includes semiconductor packaging and interconnect technologies, such as hybrid bonding and other solutions intended to improve performance, power efficiency and integration in advanced electronic devices. Its intellectual property is used across applications including data centers, communications, consumer electronics, automotive systems and other connected devices.

Adeia serves customers and technology partners internationally through licensing agreements and related business relationships.