Adeia Inc. (NASDAQ:ADEA) Receives $19.50 Consensus PT from Brokerages

Shares of Adeia Inc. (NASDAQ:ADEA) have earned a consensus recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $19.50.

Several research firms have commented on ADEA. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Roth Capital started coverage on Adeia in a report on Friday, June 20th. They issued a “buy” rating and a $26.00 price target on the stock. BWS Financial restated a “buy” rating and set a $18.00 target price on shares of Adeia in a research note on Wednesday, August 6th. Rosenblatt Securities restated a “buy” rating and set a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th. Finally, Zacks Research upgraded Adeia to a “strong-buy” rating in a research note on Friday, August 8th.

Adeia Stock Up 0.3%

NASDAQ ADEA opened at $14.98 on Friday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $13.89 and a two-hundred day moving average of $13.54. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 20.24 and a beta of 1.53. Adeia has a 52 week low of $10.59 and a 52 week high of $17.46.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 26th. Adeia’s payout ratio is 27.03%.

Hedge Funds Weigh In On Adeia

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Global Investments lifted its holdings in shares of Adeia by 1.9% in the 1st quarter. Summit Global Investments now owns 50,475 shares of the company’s stock valued at $667,000 after buying an additional 931 shares during the period. Vident Advisory LLC raised its holdings in Adeia by 2.6% in the 2nd quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after purchasing an additional 937 shares during the period. Envestnet Asset Management Inc. raised its holdings in Adeia by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock worth $272,000 after purchasing an additional 989 shares during the period. Kendall Capital Management raised its holdings in Adeia by 3.1% in the 1st quarter. Kendall Capital Management now owns 34,401 shares of the company’s stock worth $455,000 after purchasing an additional 1,050 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Adeia by 14.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock worth $113,000 after purchasing an additional 1,062 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

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.