Adeia Inc. (NASDAQ:ADEA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $37.60.

ADEA has been the topic of several research reports. Zacks Research upgraded shares of Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th. BWS Financial boosted their target price on shares of Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday.

Institutional Investors Weigh In On Adeia

A number of institutional investors and hedge funds have recently modified their holdings of ADEA. BlackRock Inc. bought a new stake in shares of Adeia during the 2nd quarter worth $573,267,000. The Manufacturers Life Insurance Company acquired a new position in shares of Adeia in the 2nd quarter worth $46,004,000. Deutsche Bank AG acquired a new stake in shares of Adeia during the second quarter worth $34,520,000. Bank of New York Mellon Corp acquired a new stake in shares of Adeia during the second quarter worth $34,425,000. Finally, Bank of America Corp DE purchased a new stake in shares of Adeia during the second quarter valued at $23,679,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Trading Down 0.4%

Shares of NASDAQ:ADEA opened at $24.82 on Friday. The company has a 50 day moving average of $26.74 and a 200-day moving average of $27.43. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.74 billion, a P/E ratio of 22.98 and a beta of 1.38. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The company had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $96.79 million. As a group, analysts anticipate that Adeia will post 1.17 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, August 24th were given a $0.05 dividend. The ex-dividend date was Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.8%. Adeia’s payout ratio is 18.52%.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a semiconductor and intellectual property licensing company. It develops and licenses technologies that help semiconductor manufacturers and electronics companies design and produce advanced chips and systems.

The company’s portfolio includes semiconductor packaging and interconnect technologies, such as hybrid bonding and other solutions intended to improve performance, power efficiency and integration in advanced electronic devices. Its intellectual property is used across applications including data centers, communications, consumer electronics, automotive systems and other connected devices.

Adeia serves customers and technology partners internationally through licensing agreements and related business relationships.