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

Shares of Adeia Inc. (NASDAQ:ADEA) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.60.

A number of brokerages have weighed in on ADEA. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Roth Mkm reissued a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BWS Financial reissued a “buy” rating and set a $30.00 price objective on shares of Adeia in a report on Tuesday, May 5th.

Adeia Price Performance

Shares of ADEA stock opened at $29.19 on Monday. Adeia has a 12 month low of $11.61 and a 12 month high of $34.34. The firm has a market cap of $3.22 billion, a PE ratio of 27.03 and a beta of 1.36. The stock has a 50 day moving average of $30.06 and a 200-day moving average of $24.07. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. On average, equities analysts predict that Adeia will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is 18.52%.

Institutional Investors Weigh In On Adeia

Several institutional investors and hedge funds have recently bought and sold shares of ADEA. Bank of America Corp DE raised its stake in shares of Adeia by 22.9% in the 1st quarter. Bank of America Corp DE now owns 740,728 shares of the company’s stock valued at $17,800,000 after buying an additional 138,034 shares in the last quarter. Janus Henderson Group PLC raised its position in Adeia by 948.3% in the first quarter. Janus Henderson Group PLC now owns 473,438 shares of the company’s stock worth $11,378,000 after purchasing an additional 428,275 shares in the last quarter. Irenic Capital Management LP bought a new position in Adeia during the first quarter worth about $4,804,000. Amundi boosted its holdings in Adeia by 75.1% during the first quarter. Amundi now owns 33,270 shares of the company’s stock valued at $800,000 after purchasing an additional 14,267 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Adeia by 9.3% in the 1st quarter. California State Teachers Retirement System now owns 109,889 shares of the company’s stock valued at $2,641,000 after purchasing an additional 9,317 shares during the period. Institutional investors own 97.36% of the company’s stock.

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.