Adeia Inc. (NASDAQ:ADEA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Adeia Inc. (NASDAQ:ADEAGet 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.

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Hedge Funds Weigh In On Adeia

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its stake in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Adeia in the third quarter worth about $28,000. Quarry LP lifted its stake in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares in the last quarter. GHP Investment Advisors Inc. purchased a new position in Adeia in the first quarter valued at about $58,000. Finally, Osaic Holdings Inc. boosted its holdings in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

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:ADEAGet 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

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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.

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Analyst Recommendations for Adeia (NASDAQ:ADEA)

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