Adeia (NASDAQ:ADEA) Reaches New 12-Month High – Should You Buy?

Adeia Inc. (NASDAQ:ADEA)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $19.08 and last traded at $18.82, with a volume of 326700 shares trading hands. The stock had previously closed at $18.54.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Rosenblatt Securities increased their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. UBS Group set a $20.00 price objective on shares of Adeia in a research report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a report on Monday, December 29th. Finally, BWS Financial upped their price objective on shares of Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $22.00.

Adeia Stock Performance

The company’s fifty day moving average price is $14.40 and its 200 day moving average price is $15.01. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market cap of $2.07 billion, a PE ratio of 17.66 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $87.34 million for the quarter, compared to analysts’ expectations of $99.24 million. Adeia had a net margin of 19.32% and a return on equity of 29.36%. On average, equities research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 24th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, November 24th. Adeia’s dividend payout ratio (DPR) is 30.77%.

Hedge Funds Weigh In On Adeia

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc acquired a new stake in Adeia in the 3rd quarter valued at $28,000. Quarry LP raised its position in Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares in the last quarter. CWM LLC lifted its holdings in shares of Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the last quarter. Osaic Holdings Inc. raised its position in Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Adeia during the third quarter worth $56,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.