Adeia Inc. (NASDAQ:ADEA) Stock Has Average Target Price of $36.60

Adeia Inc. (NASDAQ:ADEA) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $36.60.

A number of research analysts recently issued reports on ADEA shares. Weiss Ratings cut Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Zacks Research lowered shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Thursday. Rosenblatt Securities decreased their price objective on shares of Adeia from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Finally, BWS Financial restated a “buy” rating and issued a $50.00 price objective on shares of Adeia in a research report on Wednesday, October 7th.

Adeia Trading Up 4.6%

Shares of ADEA opened at $15.50 on Friday. The stock has a fifty day moving average price of $23.48 and a two-hundred day moving average price of $25.42. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.25 and a current ratio of 3.64. Adeia has a 52-week low of $11.61 and a 52-week high of $34.34. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 15.20 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The business had revenue of $80.19 million during the quarter, compared to analyst estimates of $98.88 million. Adeia had a return on equity of 36.17% and a net margin of 25.04%. Analysts predict that Adeia will post 1.03 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 14th. Stockholders of record on Monday, November 23rd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, November 23rd. Adeia’s dividend payout ratio is presently 19.61%.

Institutional Trading of Adeia

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in Adeia in the 2nd quarter worth approximately $34,000. Rockefeller Capital Management L.P. lifted its holdings in Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after buying an additional 1,781 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Adeia by 66.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,083 shares of the company’s stock valued at $53,000 after buying an additional 829 shares during the last quarter. Allworth Financial LP bought a new position in Adeia in the 2nd quarter valued at $54,000. Finally, Sterling Capital Management LLC boosted its position in Adeia by 529.5% in the 3rd quarter. Sterling Capital Management LLC now owns 3,544 shares of the company’s stock valued at $91,000 after buying an additional 2,981 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacture and packaging of advanced electronic devices. Rather than producing semiconductors itself, the company works with chipmakers, foundries and other industry participants to commercialize its intellectual property.

Adeia’s portfolio includes technologies for three-dimensional semiconductor integration, hybrid bonding, advanced packaging, memory and chip-to-chip connectivity.