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

Shares of Adeia Inc. (NASDAQ:ADEA) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.80.

Several analysts recently weighed in on the stock. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Adeia in a research note on Monday. Rosenblatt Securities lifted their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday. Roth Capital reiterated a “buy” rating on shares of Adeia in a research note on Monday. Finally, Maxim Group raised their price objective on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday.

Adeia Price Performance

NASDAQ:ADEA opened at $17.34 on Thursday. Adeia has a 52 week low of $10.59 and a 52 week high of $18.25. The stock’s fifty day moving average is $14.14 and its two-hundred day moving average is $14.61. The company has a market capitalization of $1.90 billion, a P/E ratio of 26.68 and a beta of 1.51. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.01.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The business had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Adeia had a return on equity of 29.36% and a net margin of 19.32%. Equities analysts expect that Adeia will post 1.09 EPS for the current year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, November 24th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, November 24th. Adeia’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of Adeia

Several hedge funds have recently modified their holdings of ADEA. Tudor Investment Corp ET AL purchased a new position in Adeia in the third quarter valued at $3,259,000. IFP Advisors Inc acquired a new stake in Adeia in the 3rd quarter valued at about $28,000. CIBC Bancorp USA Inc. acquired a new stake in Adeia in the 3rd quarter valued at about $195,000. Verition Fund Management LLC boosted its stake in shares of Adeia by 64.1% in the 3rd quarter. Verition Fund Management LLC now owns 66,855 shares of the company’s stock valued at $1,123,000 after buying an additional 26,111 shares during the period. Finally, Quarry LP grew its position in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

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.