Adeia Inc. (NASDAQ:ADEA) Receives $33.60 Consensus Target Price from Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.60.

Several analysts recently weighed in on ADEA shares. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. BWS Financial reissued a “buy” rating and set a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Adeia in a report on Tuesday, May 5th. Maxim Group set a $35.00 price objective on Adeia in a research note on Wednesday, May 6th. Finally, Roth Mkm restated a “buy” rating and set a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th.

Hedge Funds Weigh In On Adeia

Hedge funds and other institutional investors have recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in 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 acquiring an additional 1,180 shares during the last quarter. Quarry LP increased its position in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after buying an additional 1,127 shares in the last quarter. IFP Advisors Inc bought a new stake in Adeia in the 3rd quarter valued at about $28,000. Osaic Holdings Inc. increased its position in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after buying an additional 1,781 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

ADEA opened at $32.34 on Thursday. Adeia has a 12-month low of $11.61 and a 12-month high of $34.34. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 29.94 and a beta of 1.40. The business has a 50 day moving average of $29.01 and a 200-day moving average of $22.25. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The company had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. On average, equities research analysts expect that Adeia will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

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

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.