Adeia (NASDAQ:ADEA) Trading Down 7.4% – Time to Sell?

Shares of Adeia Inc. (NASDAQ:ADEA) traded down 7.4% during trading on Monday . The company traded as low as $27.30 and last traded at $27.6670. 565,371 shares traded hands during trading, a decline of 56% from the average session volume of 1,299,157 shares. The stock had previously closed at $29.88.

Wall Street Analyst Weigh In

ADEA has been the subject of several analyst reports. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Roth Mkm reiterated a “buy” rating and issued a $43.00 price target on shares of Adeia in a report on Tuesday, May 5th. Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, Adeia presently has an average rating of “Buy” and a consensus target price of $33.60.

Adeia Trading Down 3.6%

The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The firm’s 50-day simple moving average is $26.85 and its 200 day simple moving average is $20.12. The stock has a market capitalization of $2.91 billion, a P/E ratio of 24.46 and a beta of 1.48.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The firm had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Equities research analysts anticipate that Adeia Inc. will post 1.15 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Adeia’s dividend payout ratio is currently 18.52%.

Institutional Trading of Adeia

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Adeia by 64.5% in the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock valued at $34,474,000 after purchasing an additional 783,869 shares during the period. Systematic Financial Management LP lifted its position in shares of Adeia by 27.9% in the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after buying an additional 630,039 shares during the last quarter. Deutsche Bank AG lifted its holdings in Adeia by 386.1% in the 4th quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after purchasing an additional 582,106 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after buying an additional 448,274 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Adeia by 948.3% during the 1st quarter. Janus Henderson Group PLC now owns 473,438 shares of the company’s stock worth $11,378,000 after acquiring an additional 428,275 shares during 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.