Adeia Inc. (NASDAQ:ADEA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.60.

A number of analysts recently weighed in on ADEA shares. Roth Mkm reissued a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Maxim Group set a $35.00 target price on shares of Adeia in a research note on Wednesday, May 6th. BWS Financial restated a “buy” rating and issued a $30.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th.

Hedge Funds Weigh In On Adeia

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in Adeia by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares in the last quarter. Systematic Financial Management LP grew its stake in Adeia by 27.9% in the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Adeia by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after acquiring an additional 13,412 shares in the last quarter. Geode Capital Management LLC grew its stake in Adeia by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after acquiring an additional 19,601 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after purchasing an additional 448,274 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Performance

Adeia stock opened at $30.85 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia has a 1-year low of $11.61 and a 1-year high of $34.34. The firm has a market capitalization of $3.40 billion, a P/E ratio of 28.57 and a beta of 1.40. The company’s 50-day moving average is $28.55 and its 200 day moving average is $21.83.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Research analysts forecast that Adeia will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio is currently 18.52%.

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.