Adeia (NASDAQ:ADEA) Reaches New 1-Year High – Still a Buy?

Adeia Inc. (NASDAQ:ADEA)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.84 and last traded at $30.72, with a volume of 630884 shares trading hands. The stock had previously closed at $30.23.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ADEA. Roth Mkm raised their price objective on Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Wall Street Zen downgraded Adeia from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Adeia in a research report on Thursday, April 2nd. Finally, BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of Adeia in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $28.80.

Adeia Stock Performance

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 firm has a market cap of $3.43 billion, a price-to-earnings ratio of 31.59 and a beta of 1.30. The firm has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $18.95.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. On average, analysts expect that Adeia Inc. will post 1.11 EPS for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 16th. Adeia’s dividend payout ratio (DPR) is currently 20.41%.

Institutional Investors Weigh In On Adeia

Several institutional investors have recently added to or reduced their stakes in ADEA. Hantz Financial Services Inc. boosted its holdings in Adeia by 447.0% in 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. Quarry LP lifted its holdings in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc acquired a new stake in shares of Adeia during the third quarter worth about $28,000. Osaic Holdings Inc. lifted its holdings in shares of 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 purchasing an additional 2,309 shares during the period. Finally, CWM LLC lifted its holdings in shares of Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares during the period. 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.