Adeia (NASDAQ:ADEA) Price Target Raised to $30.00

Adeia (NASDAQ:ADEA) had its target price lifted by BWS Financial from $24.00 to $30.00 in a research report sent to investors on Tuesday, Marketbeat.com reports. BWS Financial currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on the company. Roth Mkm reiterated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Rosenblatt Securities upped their price target on Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Finally, Maxim Group boosted their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Adeia currently has a consensus rating of “Buy” and an average price target of $25.20.

Adeia Trading Up 0.9%

Shares of Adeia stock opened at $20.85 on Tuesday. Adeia has a 52-week low of $10.59 and a 52-week high of $21.07. The firm has a market capitalization of $2.28 billion, a PE ratio of 21.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.72. The company’s fifty day moving average price is $18.37 and its two-hundred day moving average price is $16.14.

Adeia (NASDAQ:ADEA) last issued its earnings results 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. The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. Adeia had a net margin of 25.05% and a return on equity of 38.01%. On average, analysts expect that Adeia will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Adeia’s payout ratio is currently 20.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in shares of Adeia during the third quarter worth approximately $3,353,000. JPMorgan Chase & Co. increased its holdings in shares of Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock valued at $10,644,000 after purchasing an additional 395,462 shares in the last quarter. Cresset Asset Management LLC bought a new position in Adeia in the 2nd quarter worth approximately $1,874,000. Public Sector Pension Investment Board lifted its holdings in Adeia by 15.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after buying an additional 68,745 shares in the last quarter. Finally, Riverwater Partners LLC acquired a new position in Adeia during the 3rd quarter worth $2,307,000. 97.36% of the stock is owned by institutional investors.

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.