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

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

A number of other analysts have also issued reports on the company. Zacks Research lowered Adeia from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Maxim Group set a $35.00 target price on shares of Adeia in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Roth Capital reissued a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Adeia Trading Down 5.3%

Shares of ADEA stock opened at $28.31 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.44. The firm has a market cap of $3.12 billion, a PE ratio of 26.21 and a beta of 1.39. The company has a 50-day moving average of $29.26 and a two-hundred day moving average of $25.81. Adeia has a 1-year low of $11.61 and a 1-year high of $34.34.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. On average, analysts predict that Adeia will post 1.15 EPS for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Hedge Funds Weigh In On Adeia

Several large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in shares of Adeia by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after purchasing an additional 97,666 shares in the last quarter. Systematic Financial Management LP grew its stake in Adeia by 27.9% during the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after buying an additional 630,039 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Adeia by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after buying an additional 13,412 shares during the period. Geode Capital Management LLC increased its position in Adeia by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after buying an additional 19,601 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after buying an additional 448,274 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.