Adeia (NASDAQ:ADEA) Shares Down 5% – What’s Next?

Adeia Inc. (NASDAQ:ADEA)’s stock price was down 5% during trading on Tuesday. The company traded as low as $23.55 and last traded at $23.6830. Approximately 79,316 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,375,973 shares. The stock had previously closed at $24.92.

Analysts Set New Price Targets

Several brokerages recently weighed in on ADEA. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Adeia in a report on Tuesday. BWS Financial increased their target price on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Adeia Trading Down 2.8%

The company has a market cap of $2.67 billion, a price-to-earnings ratio of 22.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The firm’s fifty day moving average price is $26.56 and its 200-day moving average price is $27.65.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The business had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. On average, equities analysts expect that Adeia Inc. will post 1.17 EPS for the current fiscal year.

Adeia Dividend Announcement

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

Hedge Funds Weigh In On Adeia

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADEA. BlackRock Inc. bought a new position in Adeia in the 2nd quarter valued at about $573,267,000. The Manufacturers Life Insurance Company bought a new stake in shares of Adeia during the 2nd quarter worth about $46,004,000. Deutsche Bank AG acquired a new stake in shares of Adeia in the 2nd quarter worth approximately $34,520,000. Bank of New York Mellon Corp bought a new position in shares of Adeia in the second quarter valued at approximately $34,425,000. Finally, Bank of America Corp DE acquired a new position in shares of Adeia during the second quarter valued at approximately $23,679,000. 97.36% of the stock is owned by institutional investors.

Adeia Company Profile

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.