Adeia’s (ADEA) “Buy” Rating Reaffirmed at BWS Financial

BWS Financial restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note released on Monday,Benzinga reports. They currently have a $30.00 target price on the stock.

A number of other equities analysts have also recently weighed in on ADEA. Rosenblatt Securities set a $40.00 price target on Adeia in a research note on Monday. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Roth Mkm reiterated a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Maxim Group boosted their price target on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.20.

Adeia Stock Up 12.3%

NASDAQ ADEA opened at $22.31 on Monday. Adeia has a 12 month low of $10.59 and a 12 month high of $22.37. The company has a market capitalization of $2.43 billion, a P/E ratio of 22.77 and a beta of 1.41. The company’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $16.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The business had revenue of $182.64 million for the quarter, compared to analysts’ expectations of $168.45 million. Equities research analysts expect that Adeia will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 16th. Adeia’s payout ratio is presently 20.41%.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently bought and sold shares of ADEA. Hantz Financial Services Inc. grew its stake in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Adeia in the 3rd quarter valued at about $28,000. Quarry LP lifted its position in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares in the last quarter. CWM LLC lifted its position in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Adeia by 714.9% during 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. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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.