Adeia (NASDAQ:ADEA) Reaches New 12-Month High – Time to Buy?

Adeia Inc. (NASDAQ:ADEA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.26 and last traded at $24.3350, with a volume of 285947 shares traded. The stock had previously closed at $23.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group set a $20.00 target price on shares of Adeia in a research note on Tuesday, December 23rd. Maxim Group boosted their price target on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Roth Mkm increased their target price on shares of Adeia from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Finally, Rosenblatt Securities raised their price target on Adeia to $40.00 and gave the company a “buy” rating in a report on Monday, March 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.80.

Adeia Stock Performance

The business has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $17.08. The company has a market cap of $2.75 billion, a PE ratio of 25.76 and a beta of 1.41. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. Research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s dividend payout ratio is 20.41%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in shares of Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after buying an additional 1,180 shares during the period. Quarry LP increased its stake in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the period. IFP Advisors Inc purchased a new position in Adeia in the third quarter valued at $28,000. 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 in the last quarter. Finally, CWM LLC boosted its holdings in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.