Adeia (NASDAQ:ADEA) Shares Gap Down – What’s Next?

Adeia Inc. (NASDAQ:ADEA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $27.79, but opened at $24.78. Adeia shares last traded at $28.7210, with a volume of 410,956 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADEA. BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday. Maxim Group set a $35.00 target price on Adeia in a research note on Wednesday, May 6th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Roth Capital reiterated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.60.

Adeia Stock Performance

The company has a 50 day moving average of $29.24 and a two-hundred day moving average of $25.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.44. The company has a market capitalization of $3.30 billion, a PE ratio of 27.69 and a beta of 1.39.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. As a group, equities research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is 18.52%.

Institutional Investors Weigh In On Adeia

A number of hedge funds and other institutional investors have recently bought and sold shares of ADEA. Hantz Financial Services Inc. lifted its holdings in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares during the last quarter. IFP Advisors Inc bought a new position in Adeia during the 3rd quarter valued at approximately $28,000. Quarry LP increased its position in Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in Adeia during the first quarter valued at $58,000. Finally, Osaic Holdings Inc. boosted its holdings in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.