Adeia Inc. (NASDAQ:ADEA) Given Consensus Rating of “Buy” by Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have been assigned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $33.60.

Several analysts have issued reports on the stock. Maxim Group set a $35.00 price target on shares of Adeia in a research report on Wednesday, May 6th. Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th.

Hedge Funds Weigh In On Adeia

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in shares of Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares during the period. IFP Advisors Inc bought a new position in shares of Adeia during the 3rd quarter worth about $28,000. Quarry LP lifted its holdings in shares of Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the period. GHP Investment Advisors Inc. bought a new position in Adeia during the 1st quarter valued at about $58,000. Finally, CWM LLC lifted its holdings in Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

NASDAQ ADEA opened at $26.86 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 24.87 and a beta of 1.48. The company’s fifty day moving average is $27.07 and its two-hundred day moving average is $20.29. Adeia has a 52-week low of $11.61 and a 52-week high of $34.34.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. Equities research analysts forecast that Adeia will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

About Adeia

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.