Adeia (NASDAQ:ADEA) Price Target Raised to $18.00

Adeia (NASDAQ:ADEA) had its price target boosted by Rosenblatt Securities from $15.00 to $18.00 in a research report released on Thursday,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Separately, BWS Financial reissued a “buy” rating and set a $16.00 price objective on shares of Adeia in a report on Wednesday, December 4th.

Adeia Stock Up 0.6 %

Shares of NASDAQ:ADEA opened at $14.38 on Thursday. Adeia has a fifty-two week low of $9.68 and a fifty-two week high of $14.50. The firm’s 50-day simple moving average is $12.43 and its 200-day simple moving average is $11.84. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 39.94 and a beta of 1.42. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.39%. Adeia’s dividend payout ratio (DPR) is 55.56%.

Institutional Investors Weigh In On Adeia

Large investors have recently modified their holdings of the stock. Select Equity Group L.P. lifted its stake in shares of Adeia by 12.6% in the second quarter. Select Equity Group L.P. now owns 653,425 shares of the company’s stock worth $7,309,000 after acquiring an additional 73,204 shares in the last quarter. Harvey Partners LLC boosted its holdings in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after acquiring an additional 168,000 shares during the period. SG Americas Securities LLC increased its stake in shares of Adeia by 243.7% during the third quarter. SG Americas Securities LLC now owns 69,627 shares of the company’s stock valued at $829,000 after acquiring an additional 49,367 shares during the period. Mackenzie Financial Corp boosted its stake in Adeia by 24.1% during the second quarter. Mackenzie Financial Corp now owns 68,340 shares of the company’s stock valued at $764,000 after buying an additional 13,290 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Adeia in the 2nd quarter worth approximately $689,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.