Analysts Set Adeia Inc. (NASDAQ:ADEA) Price Target at $33.60

Shares of Adeia Inc. (NASDAQ:ADEA) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.60.

Several research analysts have recently weighed in on ADEA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a report on Monday. Maxim Group set a $35.00 price objective on shares of Adeia in a research note on Wednesday, May 6th. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday.

Institutional Trading of Adeia

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. lifted its stake in shares of Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after buying an additional 1,180 shares in the last quarter. Quarry LP increased its position in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares in the last quarter. IFP Advisors Inc purchased a new position in Adeia in the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. lifted its position in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after acquiring an additional 1,781 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Price Performance

NASDAQ ADEA opened at $28.31 on Friday. The company has a market cap of $3.12 billion, a PE ratio of 26.21 and a beta of 1.39. The company has a quick ratio of 3.44, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $29.26 and its two-hundred day simple moving average is $25.81. Adeia has a 52 week low of $11.61 and a 52 week high of $34.34.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data 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. The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. Research analysts predict that Adeia will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Adeia’s payout ratio is 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.