Adeia (NASDAQ:ADEA) Reaches New 12-Month High on Analyst Upgrade

Adeia Inc. (NASDAQ:ADEA) shares reached a new 52-week high on Tuesday after Roth Mkm raised their price target on the stock from $27.00 to $34.00. Roth Mkm currently has a buy rating on the stock. Adeia traded as high as $23.80 and last traded at $22.96, with a volume of 1048361 shares trading hands. The stock had previously closed at $22.79.

Several other analysts have also recently commented on the stock. Maxim Group increased their price target on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. BWS Financial restated a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research report on Monday, March 9th. Rosenblatt Securities upped their price objective on Adeia to $40.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Finally, UBS Group set a $20.00 target price on Adeia in a research note on Tuesday, December 23rd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

Institutional Investors Weigh In On Adeia

Large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. raised its holdings in shares of Adeia by 447.0% during 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. Quarry LP boosted its stake in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc acquired a new position in Adeia in the 3rd quarter worth $28,000. Osaic Holdings Inc. increased its holdings in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the period. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 23.43 and a beta of 1.41. The company has a 50 day simple moving average of $19.50 and a 200-day simple moving average of $16.71. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83.

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

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a dividend yield of 0.9%. Adeia’s dividend payout ratio (DPR) is presently 20.41%.

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.