Rosenblatt Securities Reiterates “Buy” Rating for Adeia (NASDAQ:ADEA)

Rosenblatt Securities reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA) in a report published on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $17.00 price target on the stock.

Other analysts have also issued research reports about the company. Maxim Group increased their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. BWS Financial restated a “buy” rating and issued a $18.00 target price on shares of Adeia in a research note on Tuesday, April 15th.

Adeia Trading Up 3.2 %

Shares of ADEA opened at $13.52 on Tuesday. The company’s fifty day simple moving average is $12.97 and its 200-day simple moving average is $13.19. The company has a market cap of $1.47 billion, a P/E ratio of 23.71 and a beta of 1.57. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia has a twelve month low of $9.68 and a twelve month high of $17.46.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts expect that Adeia will post 1.09 EPS for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, May 27th. Adeia’s payout ratio is 35.09%.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently made changes to their positions in ADEA. Natixis Advisors LLC increased its position in Adeia by 72.2% during the 1st quarter. Natixis Advisors LLC now owns 37,167 shares of the company’s stock valued at $491,000 after purchasing an additional 15,582 shares during the period. Vestcor Inc increased its holdings in Adeia by 45.7% during the first quarter. Vestcor Inc now owns 11,593 shares of the company’s stock valued at $153,000 after buying an additional 3,638 shares during the period. XTX Topco Ltd purchased a new position in Adeia during the first quarter valued at approximately $1,162,000. Mackenzie Financial Corp raised its stake in Adeia by 37.9% in the first quarter. Mackenzie Financial Corp now owns 186,109 shares of the company’s stock worth $2,460,000 after buying an additional 51,101 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Adeia by 1.8% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 172,541 shares of the company’s stock worth $2,281,000 after buying an additional 3,015 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Company Profile

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.