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

Shares of Adeia Inc. (NASDAQ:ADEA) have earned an average recommendation of “Buy” from the six analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $33.60.

Several equities research analysts have commented on the stock. Roth Mkm reissued a “buy” rating and set a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Adeia from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a research note on Wednesday, May 6th.

Adeia Trading Down 5.1%

Shares of NASDAQ:ADEA opened at $29.88 on Friday. The company’s 50-day moving average price is $26.59 and its two-hundred day moving average price is $19.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia has a one year low of $11.61 and a one year high of $34.34. The stock has a market capitalization of $3.30 billion, a PE ratio of 27.67 and a beta of 1.48.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping 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 firm had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $99.72 million. On average, equities analysts forecast that Adeia will post 1.15 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Adeia’s payout ratio is currently 18.52%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ADEA. Wellington Management Group LLP increased its stake in shares of Adeia by 64.5% during the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock worth $34,474,000 after purchasing an additional 783,869 shares during the last quarter. Systematic Financial Management LP increased its stake 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 during the last quarter. Deutsche Bank AG increased its stake in shares of Adeia by 386.1% during the 4th quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after purchasing an additional 582,106 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after purchasing an additional 448,274 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Adeia during the 1st quarter worth about $10,008,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Company Profile

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.