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

Shares of Adeia Inc. (NASDAQ:ADEA) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $28.80.

A number of research analysts recently commented on the company. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Rosenblatt Securities lifted their price target on Adeia to $40.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Roth Mkm boosted their price target on Adeia from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Finally, Maxim Group raised their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd.

Institutional Investors Weigh In On Adeia

Institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. lifted its holdings in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after buying an additional 1,180 shares during the period. IFP Advisors Inc bought a new position in shares of Adeia during the third quarter worth about $28,000. Quarry LP raised 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 acquiring an additional 1,127 shares during the last quarter. CWM LLC lifted its stake in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after acquiring an additional 1,988 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares during the period. 97.36% of the stock is owned by institutional investors.

Adeia Stock Up 4.3%

ADEA opened at $25.07 on Friday. Adeia has a 1-year low of $10.59 and a 1-year high of $26.09. The stock has a market cap of $2.78 billion, a PE ratio of 25.58 and a beta of 1.29. The stock’s fifty day simple moving average is $20.75 and its 200 day simple moving average is $17.44. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The firm had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. As a group, research analysts expect that Adeia will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, March 16th. Adeia’s payout ratio is presently 20.41%.

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.