Adeia (NASDAQ:ADEA) Shares Up 5.4% – What’s Next?

Shares of Adeia Inc. (NASDAQ:ADEA) were up 5.4% during mid-day trading on Friday . The stock traded as high as $13.83 and last traded at $13.77. Approximately 265,501 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 592,302 shares. The stock had previously closed at $13.06.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADEA shares. Roth Capital started coverage on Adeia in a research report on Friday. They issued a “buy” rating and a $26.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Price Performance

The stock has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $13.41. The company has a market cap of $1.49 billion, a PE ratio of 20.82 and a beta of 1.59. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Tuesday, May 27th. Adeia’s dividend payout ratio is presently 30.30%.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC purchased a new stake in shares of Adeia during the 4th quarter worth approximately $25,000. Quarry LP purchased a new stake in shares of Adeia during the 1st quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Adeia during the 4th quarter worth approximately $33,000. Picton Mahoney Asset Management boosted its stake in shares of Adeia by 52.1% during the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after acquiring an additional 972 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Adeia during the 1st quarter worth approximately $43,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.