Adeia Sees Unusually High Options Volume (NASDAQ:ADEA)

Adeia Inc. (NASDAQ:ADEA) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 3,222 call options on the company. This is an increase of approximately 94% compared to the average daily volume of 1,662 call options.

Analyst Upgrades and Downgrades

ADEA has been the subject of a number of analyst reports. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Roth Mkm reissued a “buy” rating and issued a $43.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, BWS Financial reissued a “buy” rating and issued a $30.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Adeia has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Adeia Stock Performance

Shares of NASDAQ ADEA traded up $0.13 during mid-day trading on Wednesday, reaching $30.79. 842,132 shares of the company were exchanged, compared to its average volume of 1,377,953. The company’s 50-day simple moving average is $27.61 and its 200-day simple moving average is $20.92. 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 stock has a market capitalization of $3.40 billion, a P/E ratio of 28.51 and a beta of 1.40. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34.

Adeia (NASDAQ:ADEA) last posted 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 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, research analysts predict that Adeia will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be issued 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 dividend yield of 0.6%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ADEA. Assenagon Asset Management S.A. increased its holdings in Adeia by 29.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock valued at $4,441,000 after buying an additional 57,878 shares during the period. JPMorgan Chase & Co. increased its holdings in Adeia by 39.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock valued at $17,632,000 after buying an additional 296,742 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Adeia in the third quarter worth about $3,259,000. Public Sector Pension Investment Board boosted its stake in shares of Adeia by 15.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock valued at $8,665,000 after purchasing an additional 68,745 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Adeia in the 4th quarter valued at approximately $833,000. Institutional investors and hedge funds 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.