Adeia Inc. (NASDAQ:ADEA) Given Average Rating of “Buy” by Brokerages

Shares of Adeia Inc. (NASDAQ:ADEA) have been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $22.00.

Several brokerages recently issued reports on ADEA. Roth Capital reissued a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Rosenblatt Securities raised their price target on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Maxim Group lifted their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a report on Monday, December 29th.

Adeia Price Performance

Adeia stock opened at $18.54 on Monday. The business has a 50 day simple moving average of $14.30 and a 200 day simple moving average of $14.97. Adeia has a one year low of $10.59 and a one year high of $19.01. The company has a market capitalization of $2.03 billion, a PE ratio of 28.52 and a beta of 1.46. 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 return on equity of 29.36% and a net margin of 19.32%.The company had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. On average, sell-side analysts forecast that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

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

Institutional Trading of Adeia

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc acquired a new stake in shares of Adeia in the 3rd quarter valued at $28,000. Quarry LP boosted its holdings in Adeia by 245.5% in 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 during the last quarter. CWM LLC boosted its holdings in Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after acquiring an additional 1,988 shares during the last quarter. Osaic Holdings Inc. increased its position in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Adeia during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.