Adeia (NASDAQ:ADEA) Hits New 52-Week High – Time to Buy?

Shares of Adeia Inc. (NASDAQ:ADEA) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.37 and last traded at $22.99, with a volume of 2235671 shares traded. The stock had previously closed at $22.31.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ADEA shares. BWS Financial restated a “buy” rating and set a $30.00 target price on shares of Adeia in a research report on Monday. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Rosenblatt Securities boosted their price objective on Adeia to $40.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group set a $20.00 price objective on shares of Adeia in a research report on Tuesday, December 23rd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.20.

Adeia Price Performance

The company has a market capitalization of $2.51 billion, a PE ratio of 23.46 and a beta of 1.41. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The firm’s 50-day moving average is $19.07 and its 200-day moving average is $16.50.

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

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 16th. Adeia’s dividend payout ratio (DPR) is currently 20.41%.

Institutional Trading of Adeia

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of 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 acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Adeia in the 3rd quarter valued at $28,000. Quarry LP boosted its stake 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 purchasing an additional 1,127 shares in the last quarter. CWM LLC grew its holdings in shares of Adeia by 436.0% during the 3rd 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. Finally, Osaic Holdings Inc. grew its holdings in shares of Adeia by 714.9% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.