Adeia (NASDAQ:ADEA) Upgraded at Zacks Research

Zacks Research upgraded shares of Adeia (NASDAQ:ADEA) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. BWS Financial raised their target price on shares of Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, December 29th. UBS Group set a $20.00 price objective on shares of Adeia in a report on Tuesday, December 23rd. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. Maxim Group lifted their price target on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Finally, Rosenblatt Securities raised their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $22.00.

Adeia Stock Up 3.3%

Shares of NASDAQ:ADEA opened at $18.54 on Thursday. The company has a market capitalization of $2.03 billion, a PE ratio of 28.52 and a beta of 1.46. Adeia has a 1 year low of $10.59 and a 1 year high of $19.01. The business has a fifty day moving average price of $14.30 and a two-hundred day moving average price of $14.96. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). Adeia had a net margin of 19.32% and a return on equity of 29.36%. The company had revenue of $87.34 million during the quarter, compared to analysts’ expectations of $99.24 million. Analysts forecast that Adeia will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, November 24th. Adeia’s dividend payout ratio is presently 30.77%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Adeia in the 3rd quarter valued at about $3,353,000. JPMorgan Chase & Co. raised its holdings in Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock valued at $10,644,000 after buying an additional 395,462 shares during the period. Cresset Asset Management LLC acquired a new position in Adeia during the second quarter valued at approximately $1,874,000. Campbell & CO Investment Adviser LLC grew its stake in Adeia by 320.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 88,917 shares of the company’s stock worth $1,257,000 after buying an additional 67,794 shares during the period. Finally, Summit Global Investments raised its position in Adeia by 62.1% in the second quarter. Summit Global Investments now owns 81,833 shares of the company’s stock valued at $1,157,000 after purchasing an additional 31,358 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

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.