Shares of Adeia Inc. (NASDAQ:ADEA – Get Free Report) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $33.60.
Several equities research analysts have recently weighed in on ADEA shares. Roth Capital reaffirmed a “buy” rating and issued a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Maxim Group set a $35.00 price target on Adeia in a research report on Wednesday, May 6th. Zacks Research cut Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.
Hedge Funds Weigh In On Adeia
Adeia Stock Performance
NASDAQ:ADEA opened at $25.40 on Friday. The firm’s fifty day simple moving average is $29.13 and its 200 day simple moving average is $25.47. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 23.52 and a beta of 1.36.
Adeia (NASDAQ:ADEA – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The firm had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. As a group, equities research analysts expect that Adeia will post 1.15 earnings per share for the current fiscal year.
Adeia Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.
About Adeia
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.
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