Adeia (NASDAQ:ADEA) Hits New 52-Week High – What’s Next?

Adeia Inc. (NASDAQ:ADEA) shares reached a new 52-week high on Thursday . The stock traded as high as $27.68 and last traded at $27.7340, with a volume of 527815 shares changing hands. The stock had previously closed at $26.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADEA shares. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Adeia in a report on Thursday, April 2nd. BWS Financial reissued a “buy” rating and issued a $30.00 price objective on shares of Adeia in a report on Monday, March 9th. UBS Group set a $20.00 price objective on Adeia in a report on Tuesday, December 23rd. Maxim Group lifted their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Adeia currently has a consensus rating of “Moderate Buy” and an average price target of $28.80.

Adeia Stock Up 3.2%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81. The stock has a 50-day moving average of $22.29 and a two-hundred day moving average of $18.13. The company has a market cap of $3.08 billion, a P/E ratio of 28.33 and a beta of 1.30.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $168.45 million. On average, research analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were given a $0.05 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s payout ratio is presently 20.41%.

Institutional Trading of Adeia

Several hedge funds and other institutional investors have recently bought and sold shares of ADEA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Adeia by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after purchasing an additional 2,829 shares during the last quarter. Caxton Associates LLP bought a new stake in Adeia in the first quarter valued at approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 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 purchasing an additional 42,918 shares during the last quarter. Jane Street Group LLC lifted its position in 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 purchasing an additional 321,976 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in Adeia in the first quarter valued at approximately $167,000. Institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

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.