Adeia’s (ADEA) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Adeia (NASDAQ:ADEAFree Report) in a research report released on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $40.00 price target on the stock.

Several other research firms have also issued reports on ADEA. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Adeia from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Roth Capital reissued a “buy” rating and set a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Maxim Group set a $35.00 price target on shares of Adeia in a research report on Wednesday, May 6th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.60.

Check Out Our Latest Research Report on ADEA

Adeia Stock Performance

NASDAQ:ADEA opened at $28.31 on Tuesday. Adeia has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.44. The stock has a market cap of $3.12 billion, a P/E ratio of 26.21 and a beta of 1.39. The firm has a 50-day moving average of $29.26 and a two-hundred day moving average of $25.81.

Adeia (NASDAQ:ADEAGet Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. On average, research analysts expect that Adeia will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. Adeia’s dividend payout ratio is presently 18.52%.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Adeia by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after buying an additional 2,829 shares during the period. Caxton Associates LLP acquired a new stake in shares of Adeia in the 1st quarter worth approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Adeia by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock valued at $3,059,000 after acquiring an additional 42,918 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after acquiring an additional 321,976 shares in the last quarter. Finally, Focus Partners Wealth acquired a new position in shares of Adeia during the first quarter valued at approximately $167,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Company Profile

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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.

Further Reading

Analyst Recommendations for Adeia (NASDAQ:ADEA)

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