Adeia (NASDAQ:ADEA) Sets New 52-Week High – Time to Buy?

Adeia Inc. (NASDAQ:ADEA) hit a new 52-week high during trading on Monday . The company traded as high as $19.08 and last traded at $18.82, with a volume of 326700 shares trading hands. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Adeia in a research report on Monday, December 29th. Maxim Group upped their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. BWS Financial lifted their price target on shares of Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 29th. Rosenblatt Securities increased their price objective on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Adeia presently has a consensus rating of “Buy” and a consensus target price of $22.00.

Adeia Stock Up 2.0%

The business’s 50 day moving average price is $14.40 and its 200-day moving average price is $15.01. The company has a market cap of $2.07 billion, a P/E ratio of 17.66 and a beta of 1.46. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm had revenue of $87.34 million during the quarter, compared to the consensus estimate of $99.24 million. Adeia had a net margin of 19.32% and a return on equity of 29.36%. On average, analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 24th were paid a $0.05 dividend. The ex-dividend date was Monday, November 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Adeia’s payout ratio is currently 30.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in Adeia by 29.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock valued at $4,441,000 after buying an additional 57,878 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Adeia by 31.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,332 shares of the company’s stock valued at $81,000 after buying an additional 1,033 shares during the period. JPMorgan Chase & Co. increased its holdings in Adeia by 39.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after purchasing an additional 296,742 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Adeia in the 3rd quarter valued at $3,259,000. Finally, IFP Advisors Inc purchased a new stake in Adeia during the 3rd quarter valued at approximately $28,000. 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.