Adeia Inc. (NASDAQ:ADEA) Declares $0.05 Quarterly Dividend

Adeia Inc. (NASDAQ:ADEA) announced a quarterly dividend on Monday, August 3rd. Investors of record on Monday, August 24th will be given a dividend of 0.05 per share on Monday, September 14th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th.

Adeia has decreased its dividend by an average of 0.2%annually over the last three years. Adeia has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Adeia to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 14.7%.

Adeia Stock Up 4.3%

Shares of NASDAQ ADEA opened at $27.79 on Tuesday. Adeia has a 52-week low of $11.61 and a 52-week high of $34.34. The stock has a market capitalization of $3.06 billion, a PE ratio of 25.73 and a beta of 1.39. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The firm has a fifty day moving average of $29.15 and a 200-day moving average of $25.59.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. On average, analysts anticipate that Adeia will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ADEA shares. Roth Capital reaffirmed a “buy” rating and issued a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research lowered shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. BWS Financial reiterated a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Maxim Group set a $35.00 price objective on Adeia in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.