Adeia (NASDAQ:ADEA) Shares Down 7.4% – Here’s Why

Adeia Inc. (NASDAQ:ADEA) fell 7.4% during trading on Monday . The stock traded as low as $27.30 and last traded at $27.6670. 565,371 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 1,299,157 shares. The stock had previously closed at $29.88.

Wall Street Analyst Weigh In

Several brokerages have commented on ADEA. Zacks Research upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Roth Mkm restated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen lowered shares of 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 objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $33.60.

Adeia Stock Performance

The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $26.59 and its 200-day moving average is $19.99. The company has a market capitalization of $3.02 billion, a P/E ratio of 25.25 and a beta of 1.48.

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

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, May 26th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Institutional Trading of Adeia

Several institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management grew its position in Adeia by 2.5% during the 1st quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock valued at $360,000 after purchasing an additional 364 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Adeia by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after acquiring an additional 656 shares in the last quarter. Redmond Asset Management LLC increased its position in shares of Adeia by 0.4% during the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after acquiring an additional 727 shares in the last quarter. Amundi increased its position in shares of Adeia by 4.5% during the fourth quarter. Amundi now owns 19,003 shares of the company’s stock valued at $328,000 after acquiring an additional 827 shares in the last quarter. Finally, Vident Advisory LLC increased its position in shares of Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after acquiring an additional 937 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.