Adeia Inc. (NASDAQ:ADEA) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Adeia Inc. (NASDAQ:ADEA) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $37.60.

Several brokerages have issued reports on ADEA. BWS Financial reaffirmed a “buy” rating and set a $50.00 price objective on shares of Adeia in a report on Wednesday, October 7th. Weiss Ratings cut Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a report on Tuesday, September 29th. Finally, Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd.

Adeia Trading Down 0.3%

NASDAQ ADEA opened at $23.13 on Wednesday. The firm’s fifty day moving average price is $26.11 and its 200 day moving average price is $27.73. Adeia has a 12 month low of $11.61 and a 12 month high of $34.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.42 and a beta of 1.35.

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. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The firm had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $96.79 million. On average, sell-side analysts expect that Adeia will post 1.17 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, August 24th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.9%. Adeia’s payout ratio is 18.52%.

Institutional Investors Weigh In On Adeia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in shares of Adeia during the second quarter worth approximately $3,028,000. State of Wyoming acquired a new position in shares of Adeia in the 2nd quarter valued at $1,550,000. Irenic Capital Management LP increased its holdings in shares of Adeia by 217.5% in the 2nd quarter. Irenic Capital Management LP now owns 634,772 shares of the company’s stock valued at $20,903,000 after acquiring an additional 434,872 shares during the period. Fifth Third Bancorp increased its holdings in shares of Adeia by 13,439.1% in the 1st quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock valued at $1,347,000 after acquiring an additional 55,638 shares during the period. Finally, BlackRock Inc. purchased a new stake in Adeia in the 2nd quarter valued at $573,267,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company’s technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.