Adeia (NASDAQ:ADEA) Trading 10.2% Higher – Time to Buy?

Adeia Inc. (NASDAQ:ADEA)’s stock price was up 10.2% during trading on Monday . The stock traded as high as $31.78 and last traded at $31.9220. Approximately 971,333 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,440,882 shares. The stock had previously closed at $28.98.

Analysts Set New Price Targets

A number of brokerages have recently commented on ADEA. Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Roth Mkm reaffirmed a “buy” rating and issued a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Zacks Research cut shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BWS Financial reissued a “buy” rating and set a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and an average price target of $33.60.

Adeia Stock Performance

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 company has a market capitalization of $3.48 billion, a PE ratio of 29.24 and a beta of 1.40. The stock’s fifty day simple moving average is $28.13 and its 200-day simple moving average is $21.43.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data 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 net margin of 26.50% and a return on equity of 39.49%. The business had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. On average, research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is 18.52%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hantz Financial Services Inc. increased its stake in shares of Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new stake in Adeia during the third quarter worth approximately $28,000. Quarry LP boosted its position in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Adeia during the first quarter worth approximately $58,000. Finally, Osaic Holdings Inc. boosted its position in 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 acquiring an additional 2,309 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Company Profile

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.