Adeia (NASDAQ:ADEA) Price Target Raised to $34.00 at Roth Mkm

Adeia (NASDAQ:ADEA) had its price objective hoisted by Roth Mkm from $27.00 to $34.00 in a research report released on Monday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

ADEA has been the topic of several other research reports. UBS Group set a $20.00 price objective on Adeia in a research note on Tuesday, December 23rd. BWS Financial reissued a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Monday, March 9th. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Five equities 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, the company has an average rating of “Moderate Buy” and an average price target of $28.80.

Adeia Stock Up 0.7%

ADEA opened at $22.96 on Monday. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 23.43 and a beta of 1.41. Adeia has a twelve month low of $10.59 and a twelve month high of $23.80. The company’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $16.71.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The firm had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. As a group, equities analysts expect that Adeia will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ADEA. Assenagon Asset Management S.A. bought a new position in shares of Adeia during the 3rd quarter valued at $3,353,000. JPMorgan Chase & Co. raised its position in Adeia by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after purchasing an additional 395,462 shares during the period. Cresset Asset Management LLC bought a new stake in Adeia in the second quarter worth $1,874,000. Public Sector Pension Investment Board lifted its stake in Adeia by 15.4% in the third quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after purchasing an additional 68,745 shares during the last quarter. Finally, Skylands Capital LLC boosted its position in Adeia by 17.5% during the third quarter. Skylands Capital LLC now owns 497,300 shares of the company’s stock valued at $8,355,000 after buying an additional 74,076 shares during the period. 97.36% of the stock is currently owned by institutional investors.

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.