Brokerages Set Adeia Inc. (NASDAQ:ADEA) Price Target at $25.20

Adeia Inc. (NASDAQ:ADEA) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.20.

Several brokerages have issued reports on ADEA. Roth Mkm reissued a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Zacks Research cut shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Rosenblatt Securities boosted their price target on Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Maxim Group raised their price objective on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th.

Adeia Price Performance

Shares of Adeia stock opened at $21.00 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. The company has a market cap of $2.29 billion, a PE ratio of 21.43 and a beta of 1.41. The firm has a fifty day moving average price of $18.80 and a two-hundred day moving average price of $16.34. Adeia has a fifty-two week low of $10.59 and a fifty-two week high of $21.07.

Adeia (NASDAQ:ADEA) last released 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. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The business had revenue of $182.64 million during the quarter, compared to analysts’ expectations of $168.45 million. Analysts expect that Adeia will post 1.09 EPS for the current year.

Adeia Dividend Announcement

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

Hedge Funds Weigh In On Adeia

Large investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the last quarter. Quarry LP grew its holdings in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Adeia in the third quarter valued at about $28,000. Osaic Holdings Inc. raised its holdings in Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares in the last quarter. Finally, CWM LLC boosted its position in Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the last quarter. 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.