Brokerages Set Adeia Inc. (NASDAQ:ADEA) Price Target at $33.60

Adeia Inc. (NASDAQ:ADEA) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $33.60.

A number of research firms have commented on ADEA. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BWS Financial restated a “buy” rating and issued a $30.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Roth Mkm restated a “buy” rating and issued a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th.

Adeia Price Performance

Adeia stock opened at $26.36 on Friday. Adeia has a one year low of $11.61 and a one year high of $34.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The business has a fifty day moving average of $27.00 and a two-hundred day moving average of $20.25. The company has a market cap of $2.91 billion, a P/E ratio of 24.41 and a beta of 1.48.

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

Adeia Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADEA. Hantz Financial Services Inc. increased its position in shares of Adeia by 447.0% in the fourth 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 in the last quarter. Quarry LP increased its position in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Adeia in the third quarter valued at $28,000. Osaic Holdings Inc. increased its position in shares of 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 buying an additional 2,309 shares in the last quarter. Finally, CWM LLC increased its position in Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.