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

Adeia Inc. (NASDAQ:ADEA) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.60.

Several brokerages have recently issued reports on ADEA. Maxim Group set a $35.00 target price on shares of Adeia in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th.

Institutional Trading of Adeia

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of Adeia by 22.9% during 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 1st 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 during the period. Irenic Capital Management LP purchased a new stake in Adeia in the 1st quarter worth about $4,804,000. Amundi raised its position in Adeia by 75.1% in the 1st quarter. Amundi now owns 33,270 shares of the company’s stock worth $800,000 after purchasing an additional 14,267 shares during the period. Finally, California State Teachers Retirement System raised its position in Adeia by 9.3% in the 1st quarter. California State Teachers Retirement System now owns 109,889 shares of the company’s stock worth $2,641,000 after purchasing an additional 9,317 shares during the period. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Up 1.0%

ADEA opened at $30.85 on Thursday. The firm has a 50-day simple moving average of $28.55 and a two-hundred day simple moving average of $21.83. Adeia has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a market capitalization of $3.40 billion, a PE ratio of 28.57 and a beta of 1.40. 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 released its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The business had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. Analysts forecast that Adeia will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio is currently 18.52%.

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.