Adeia (NASDAQ:ADEA) Shares Gap Up to $9.99

Adeia Inc. (NASDAQ:ADEA) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.99, but opened at $10.50. Adeia shares last traded at $10.54, with a volume of 71,512 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADEA shares. Rosenblatt Securities started coverage on Adeia in a research report on Friday, February 23rd. They issued a “buy” rating and a $15.00 target price on the stock. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Adeia in a report on Tuesday.

Adeia Stock Up 0.4 %

The stock has a fifty day moving average price of $10.63 and a two-hundred day moving average price of $10.81. The firm has a market capitalization of $1.22 billion, a P/E ratio of 19.03 and a beta of 1.43. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.02 and a current ratio of 2.02.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Adeia had a net margin of 17.33% and a return on equity of 42.74%. The company had revenue of $86.87 million for the quarter, compared to analysts’ expectations of $89.23 million. Research analysts forecast that Adeia Inc. will post 1.18 EPS for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, May 24th. Adeia’s dividend payout ratio (DPR) is 33.90%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Parkside Financial Bank & Trust increased its stake in Adeia by 635.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock valued at $25,000 after buying an additional 2,028 shares during the period. Highlander Capital Management LLC raised its holdings in Adeia by 267.3% during the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after purchasing an additional 1,518 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in Adeia in the third quarter worth approximately $33,000. Selway Asset Management bought a new position in Adeia during the 3rd quarter valued at $36,000. Finally, EMC Capital Management increased its position in shares of Adeia by 2,732.0% during the 3rd quarter. EMC Capital Management now owns 8,496 shares of the company’s stock valued at $91,000 after purchasing an additional 8,196 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.