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

Shares of Adeia Inc. (NASDAQ:ADEA) have been given an average recommendation of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.50.

Several equities research analysts have recently weighed in on ADEA shares. Zacks Research upgraded Adeia to a “strong-buy” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adeia in a research note on Saturday, September 27th. Roth Capital started coverage on Adeia in a research note on Friday, June 20th. They issued a “buy” rating and a $26.00 price objective on the stock. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research note on Wednesday, August 6th.

Adeia Trading Down 0.2%

Adeia stock opened at $17.29 on Friday. The business has a 50 day moving average price of $15.19 and a two-hundred day moving average price of $13.91. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 23.36 and a beta of 1.74. Adeia has a 12 month low of $10.59 and a 12 month high of $17.84.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 26th. Adeia’s dividend payout ratio is currently 27.03%.

Institutional Investors Weigh In On Adeia

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. grew its position in Adeia by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares during the last quarter. Harvey Partners LLC grew its position in Adeia by 0.5% during the 2nd quarter. Harvey Partners LLC now owns 3,189,944 shares of the company’s stock worth $45,106,000 after acquiring an additional 17,444 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Adeia by 6.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company’s stock worth $30,638,000 after acquiring an additional 147,971 shares during the last quarter. Finally, Systematic Financial Management LP grew its position in Adeia by 1.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,293,737 shares of the company’s stock worth $32,433,000 after acquiring an additional 31,315 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

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.