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

Shares of Adeia Inc. (NASDAQ:ADEA) have received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.60.

Several equities analysts recently commented on the stock. Roth Capital reaffirmed a “buy” rating and set a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. BWS Financial reiterated a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd.

Adeia Stock Up 9.7%

ADEA opened at $25.40 on Friday. Adeia has a 12 month low of $11.61 and a 12 month high of $34.34. The business has a 50-day moving average of $29.13 and a two-hundred day moving average of $25.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 23.52 and a beta of 1.36.

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

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio is 18.52%.

Institutional Investors Weigh In On Adeia

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADEA. Tactive Advisors LLC acquired a new position in shares of Adeia in the 2nd quarter valued at about $286,000. GAMMA Investing LLC grew its holdings in shares of Adeia by 7.1% during the 2nd quarter. GAMMA Investing LLC now owns 7,864 shares of the company’s stock worth $259,000 after purchasing an additional 523 shares during the period. Canandaigua National Bank & Trust Co. acquired a new stake in Adeia during the 2nd quarter worth approximately $216,000. Bank of America Corp DE increased its position in Adeia by 22.9% during the 1st quarter. Bank of America Corp DE now owns 740,728 shares of the company’s stock worth $17,800,000 after purchasing an additional 138,034 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Adeia by 948.3% in the first quarter. Janus Henderson Group PLC now owns 473,438 shares of the company’s stock valued at $11,378,000 after buying an additional 428,275 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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.