Adeia’s (ADEA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report released on Thursday morning, Marketbeat Ratings reports. Rosenblatt Securities currently has a $40.00 target price on the stock.

A number of other analysts have also commented on ADEA. BWS Financial reissued a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research report on Monday, March 9th. UBS Group set a $20.00 target price on Adeia in a research note on Tuesday, December 23rd. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Maxim Group increased their price target on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.80.

Adeia Price Performance

ADEA opened at $25.07 on Thursday. Adeia has a 1 year low of $10.59 and a 1 year high of $26.09. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average price of $20.96 and a 200 day moving average price of $17.57. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 25.58 and a beta of 1.30.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. Analysts forecast that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, March 16th. Adeia’s payout ratio is presently 20.41%.

Hedge Funds Weigh In On Adeia

A number of hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in Adeia by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after buying an additional 97,666 shares in the last quarter. Harvey Partners LLC lifted its position in shares of Adeia by 0.5% during the 2nd quarter. Harvey Partners LLC now owns 3,189,944 shares of the company’s stock valued at $45,106,000 after acquiring an additional 17,444 shares during the period. Systematic Financial Management LP grew its holdings in shares of Adeia by 27.9% during the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after purchasing an additional 630,039 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Adeia by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after purchasing an additional 13,412 shares during the period. Finally, Geode Capital Management LLC grew its stake in Adeia by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after buying an additional 19,601 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

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.