Adeia Inc. (NASDAQ:ADEA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $37.60.

A number of brokerages have issued reports on ADEA. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, August 19th. BWS Financial lifted their price target on shares of Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Maxim Group set a $35.00 price target on Adeia in a research report on Wednesday, May 6th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in Adeia during the second quarter worth about $34,000. Hantz Financial Services Inc. increased its holdings in Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after buying an additional 1,180 shares during the period. IFP Advisors Inc bought a new position in Adeia in the 3rd quarter valued at about $28,000. Quarry LP raised its position in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Adeia in the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Trading Up 0.1%

Shares of Adeia stock opened at $26.28 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a 50-day moving average of $28.58 and a 200-day moving average of $26.58. Adeia has a 52-week low of $11.61 and a 52-week high of $34.34. The stock has a market cap of $2.90 billion, a PE ratio of 24.33 and a beta of 1.39.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping 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 business had revenue of $96.12 million for the quarter, compared to analyst estimates of $96.79 million. As a group, sell-side analysts forecast that Adeia will post 1.17 EPS for the current year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 24th. Adeia’s dividend payout ratio is 18.52%.

About Adeia

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.