Adeia (NASDAQ:ADEA) Hits New 52-Week High – Here’s What Happened

Shares of Adeia Inc. (NASDAQ:ADEA) reached a new 52-week high on Thursday . The company traded as high as $21.07 and last traded at $21.00, with a volume of 1329442 shares traded. The stock had previously closed at $20.75.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADEA. Roth Mkm reaffirmed a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. BWS Financial boosted their target price on shares of Adeia from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Rosenblatt Securities upped their target price on shares of Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.20.

Adeia Stock Performance

The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 20.28 and a beta of 1.41. The company has a 50-day moving average of $18.86 and a 200-day moving average of $16.37.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $182.64 million for the quarter, compared to analysts’ expectations of $168.45 million. On average, equities research analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, March 16th. Adeia’s dividend payout ratio (DPR) is presently 20.41%.

Institutional Investors Weigh In On Adeia

Institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. raised its stake in Adeia by 5.9% during the fourth quarter. Pacer Advisors Inc. now owns 564,941 shares of the company’s stock worth $9,745,000 after acquiring an additional 31,355 shares during the period. Invesco Ltd. boosted its stake in Adeia by 16.5% in the fourth quarter. Invesco Ltd. now owns 544,875 shares of the company’s stock valued at $9,399,000 after acquiring an additional 77,359 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Adeia by 13.7% during the fourth quarter. Corient Private Wealth LLC now owns 11,738 shares of the company’s stock valued at $202,000 after purchasing an additional 1,410 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Adeia by 20.1% during the fourth quarter. Vident Advisory LLC now owns 52,470 shares of the company’s stock valued at $905,000 after purchasing an additional 8,790 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Adeia during the 4th quarter worth approximately $313,000. Institutional investors 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.