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

Adeia Inc. (NASDAQ:ADEA) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.20.

ADEA has been the subject of a number of analyst reports. Rosenblatt Securities upped their price objective on shares of Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Wall Street Zen raised Adeia from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Roth Mkm reissued a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Finally, Maxim Group raised their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd.

Institutional Trading of Adeia

A number of hedge funds and other institutional investors have recently made changes to their positions in ADEA. Ameriprise Financial Inc. increased its holdings in Adeia by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock valued at $205,166,000 after buying an additional 97,666 shares during the last quarter. Harvey Partners LLC grew its position in shares of Adeia by 0.5% in the 2nd quarter. Harvey Partners LLC now owns 3,189,944 shares of the company’s stock worth $45,106,000 after acquiring an additional 17,444 shares in the last quarter. Systematic Financial Management LP grew its position in shares of Adeia by 27.9% in the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Adeia by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock valued at $47,364,000 after acquiring an additional 13,412 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Adeia by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock valued at $48,299,000 after acquiring an additional 19,601 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Trading Down 5.4%

ADEA opened at $19.87 on Tuesday. The firm’s 50 day moving average is $18.86 and its 200-day moving average is $16.38. Adeia has a 52-week low of $10.59 and a 52-week high of $21.07. 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 has a market capitalization of $2.17 billion, a P/E ratio of 20.28 and a beta of 1.41.

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

Adeia Dividend Announcement

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

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.