Adeia Inc. (NASDAQ:ADEA) Receives $28.80 Average PT from Brokerages

Adeia Inc. (NASDAQ:ADEA) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $28.80.

ADEA has been the subject of several recent research reports. Wall Street Zen raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Maxim Group upped their price target on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. UBS Group set a $20.00 price target on shares of Adeia in a report on Tuesday, December 23rd. Finally, Rosenblatt Securities upped their price objective on shares of Adeia to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 9th.

Adeia Price Performance

ADEA stock opened at $23.13 on Friday. Adeia has a 1 year low of $10.59 and a 1 year high of $26.09. The stock has a market capitalization of $2.56 billion, a PE ratio of 23.60 and a beta of 1.41. The company’s 50-day moving average is $20.54 and its 200-day moving average is $17.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The business had revenue of $182.64 million for the quarter, compared to the consensus estimate of $168.45 million. Equities research analysts expect that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 0.9%. Adeia’s payout ratio is currently 20.41%.

Institutional Trading of Adeia

Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its position in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares during the period. IFP Advisors Inc purchased a new stake in Adeia in the third quarter worth $28,000. Quarry LP raised its stake in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares during the period. CWM LLC raised its stake in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares during the period. Finally, Osaic Holdings Inc. lifted its position in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares during the last quarter. Hedge funds and other 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.