Rosenblatt Securities reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA – Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a $40.00 price objective on the stock.
ADEA has been the subject of a number of other reports. BWS Financial lifted their target price on Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. Finally, Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and a consensus price target of $37.60.
Read Our Latest Research Report on ADEA
Adeia Stock Performance
Adeia (NASDAQ:ADEA – Get Free Report) last announced its quarterly 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 firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. As a group, equities analysts predict that Adeia will post 1.17 EPS for the current year.
Adeia Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, August 24th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s dividend payout ratio (DPR) is presently 18.52%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ADEA. Public Employees Retirement System of Ohio acquired a new stake in Adeia in the second quarter worth about $34,000. Hantz Financial Services Inc. increased its holdings 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. Allworth Financial LP purchased a new position in shares of Adeia in the 2nd quarter valued at approximately $54,000. GHP Investment Advisors Inc. purchased a new position in shares of Adeia in the 1st quarter valued at approximately $58,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after purchasing an additional 1,781 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.
About Adeia
Adeia Inc (NASDAQ: ADEA) is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.
The company’s technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.
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