Adeia (NASDAQ:ADEA) Sets New 1-Year High – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADEA. Rosenblatt Securities increased their target price on shares of Adeia to $40.00 and gave the company a “buy” rating in a research report on Monday. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Roth Mkm reaffirmed a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Maxim Group lifted their target price on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Finally, Wall Street Zen raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 7th. Five equities 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.20.

Adeia Stock Down 1.9%

The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 23.34 and a beta of 1.41. The firm’s 50 day moving average price is $19.30 and its two-hundred day moving average price is $16.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

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

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.9%. Adeia’s payout ratio is presently 20.41%.

Institutional Investors Weigh In On Adeia

Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its stake in Adeia by 0.7% in the 2nd 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 period. Harvey Partners LLC boosted its holdings in shares of Adeia by 0.5% in the second quarter. Harvey Partners LLC now owns 3,189,944 shares of the company’s stock valued at $45,106,000 after acquiring an additional 17,444 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Adeia by 27.9% during the fourth 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 during the period. Dimensional Fund Advisors LP raised its holdings in Adeia by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after purchasing an additional 13,412 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Adeia by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after purchasing an additional 19,601 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.