Adeia Inc. (NASDAQ:ADEA – Get Free Report) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $37.60.
ADEA has been the topic of several recent analyst reports. BWS Financial boosted their target price on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research 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. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th.
Read Our Latest Report on ADEA
Adeia Stock Performance
Adeia (NASDAQ:ADEA – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $96.79 million. As a group, equities research analysts forecast that Adeia will post 1.17 EPS for the current year.
Adeia Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, August 24th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, August 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s payout ratio is 18.52%.
Hedge Funds Weigh In On Adeia
Several institutional investors and hedge funds have recently bought and sold shares of ADEA. BlackRock Inc. acquired a new stake in shares of Adeia in the second quarter worth $573,267,000. The Manufacturers Life Insurance Company acquired a new position in shares of Adeia in the second quarter worth about $46,004,000. Deutsche Bank AG acquired a new stake in shares of Adeia during the second quarter worth approximately $34,520,000. Bank of New York Mellon Corp bought a new stake in shares of Adeia in the second quarter worth $34,425,000. Finally, Bank of America Corp DE bought a new position in Adeia during the 2nd quarter valued at $23,679,000. Institutional investors and hedge funds own 97.36% of the company’s stock.
About Adeia
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.
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