Brokerages Set Adeia Inc. (NASDAQ:ADEA) PT at $19.50

Adeia Inc. (NASDAQ:ADEA) has been assigned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $19.50.

ADEA has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Adeia in a report on Saturday, September 27th. Zacks Research upgraded Adeia to a “strong-buy” rating in a report on Friday, August 8th. Roth Capital began coverage on Adeia in a report on Friday, June 20th. They issued a “buy” rating and a $26.00 price objective for the company. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Monday.

Institutional Trading of Adeia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in Adeia during the 1st quarter worth about $11,622,000. Invesco Ltd. grew its holdings in Adeia by 122.2% during the 1st quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock worth $12,709,000 after acquiring an additional 528,617 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the period. JPMorgan Chase & Co. grew its holdings in Adeia by 110.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after acquiring an additional 395,462 shares during the period. Finally, Jane Street Group LLC grew its holdings in Adeia by 1,193.2% during the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after acquiring an additional 321,976 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Up 4.2%

Shares of NASDAQ:ADEA opened at $18.01 on Friday. The company has a fifty day moving average of $15.28 and a 200-day moving average of $13.94. The company has a market capitalization of $1.97 billion, a PE ratio of 24.34 and a beta of 1.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. Adeia has a 52-week low of $10.59 and a 52-week high of $18.03.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, August 26th. Adeia’s dividend payout ratio is presently 27.03%.

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.