Brokerages Set Adeia Inc. (NASDAQ:ADEA) Target Price at $33.60

Adeia Inc. (NASDAQ:ADEA) has earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $33.60.

Several research analysts recently issued reports on the company. BWS Financial reissued a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Finally, Roth Capital reiterated a “buy” rating and set a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ADEA. Ritholtz Wealth Management lifted its stake in shares of Adeia by 2.5% during the 1st quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock worth $360,000 after purchasing an additional 364 shares during the last quarter. GAMMA Investing LLC grew its stake in Adeia by 7.1% in the second quarter. GAMMA Investing LLC now owns 7,864 shares of the company’s stock valued at $259,000 after purchasing an additional 523 shares during the last quarter. ProShare Advisors LLC grew its stake in Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after purchasing an additional 656 shares during the last quarter. Redmond Asset Management LLC raised its holdings in Adeia by 0.4% in the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after purchasing an additional 727 shares in the last quarter. Finally, Amundi raised its holdings in Adeia by 4.5% in the fourth quarter. Amundi now owns 19,003 shares of the company’s stock worth $328,000 after purchasing an additional 827 shares in the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Performance

NASDAQ ADEA opened at $28.98 on Monday. The business’s 50 day moving average price is $29.93 and its 200-day moving average price is $24.56. Adeia has a fifty-two week low of $11.61 and a fifty-two week high of $34.34. The company has a market cap of $3.20 billion, a P/E ratio of 26.83 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44.

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

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Adeia’s dividend payout ratio is currently 18.52%.

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.