Adeia (NASDAQ:ADEA) Hits New 1-Year High on Analyst Upgrade

Adeia Inc. (NASDAQ:ADEA)’s share price reached a new 52-week high during trading on Tuesday after Roth Mkm raised their price target on the stock from $27.00 to $34.00. Roth Mkm currently has a buy rating on the stock. Adeia traded as high as $23.80 and last traded at $22.96, with a volume of 1048361 shares. The stock had previously closed at $22.79.

A number of other analysts have also recently issued reports on the company. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. BWS Financial restated a “buy” rating and set a $30.00 price target on shares of Adeia in a research note on Monday, March 9th. Wall Street Zen raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 7th. Rosenblatt Securities upped their price objective on Adeia to $40.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.80.

Hedge Funds Weigh In On Adeia

Several institutional investors have recently added to or reduced their stakes in ADEA. Hantz Financial Services Inc. grew its stake in Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after buying an additional 1,180 shares during the last quarter. Quarry LP increased its holdings in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares in the last quarter. IFP Advisors Inc bought a new position in shares of Adeia in the third quarter valued at approximately $28,000. Osaic Holdings Inc. boosted its holdings in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after acquiring an additional 1,988 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

The firm has a market capitalization of $2.50 billion, a P/E ratio of 23.43 and a beta of 1.41. The stock has a 50-day moving average of $19.50 and a 200 day moving average of $16.71. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. On average, research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. Adeia’s dividend payout ratio is currently 20.41%.

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.