Adeia (NASDAQ:ADEA) Trading Up 14.1% – Here’s Why

Adeia Inc. (NASDAQ:ADEA) shares traded up 14.1% during mid-day trading on Monday . The stock traded as high as $30.16 and last traded at $30.49. 1,459,384 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 1,333,994 shares. The stock had previously closed at $26.72.

Wall Street Analysts Forecast Growth

ADEA has been the subject of a number of recent research reports. Weiss Ratings downgraded Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BWS Financial restated a “buy” rating and set a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Rosenblatt Securities restated a “buy” rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Finally, Roth Mkm restated a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Adeia presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Adeia Trading Up 14.8%

The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The business has a 50 day moving average of $27.51 and a 200 day moving average of $20.82. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 28.48 and a beta of 1.40.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. As a group, research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its stake in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after acquiring an additional 1,180 shares during the period. IFP Advisors Inc acquired a new position in Adeia in the third quarter valued at about $28,000. Quarry LP grew its stake in Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares during the period. GHP Investment Advisors Inc. acquired a new position in Adeia in the first quarter valued at about $58,000. Finally, Osaic Holdings Inc. grew its stake in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the period. 97.36% of the stock is 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.