Adeia Inc. (NASDAQ:ADEA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Adeia Inc. (NASDAQ:ADEA) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $28.80.

ADEA has been the topic of a number of research analyst reports. Rosenblatt Securities upped their price target on Adeia to $40.00 and gave the company a “buy” rating in a report on Monday, March 9th. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Roth Mkm raised their price target on shares of Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, UBS Group set a $20.00 price target on shares of Adeia in a research note on Tuesday, December 23rd.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $24.19 on Friday. The firm has a market cap of $2.68 billion, a P/E ratio of 24.68 and a beta of 1.41. Adeia has a twelve month low of $10.59 and a twelve month high of $26.09. 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 company has a 50 day moving average of $20.47 and a 200 day moving average of $17.24.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, February 23rd. The company reported $0.86 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $168.45 million. As a group, research analysts expect that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 0.8%. Adeia’s dividend payout ratio (DPR) is currently 20.41%.

Institutional Investors Weigh In On Adeia

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Adeia by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after buying an additional 2,829 shares during the period. Caxton Associates LLP bought a new stake in shares of Adeia in the first quarter worth $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Adeia by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after acquiring an additional 42,918 shares during the period. Jane Street Group LLC increased its position in Adeia by 1,193.2% during the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after acquiring an additional 321,976 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Adeia during the first quarter valued at $167,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

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.