Adeia (NASDAQ:ADEA) Rating Reiterated by BWS Financial

BWS Financial reissued their buy rating on shares of Adeia (NASDAQ:ADEA) in a report released on Tuesday, Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Rosenblatt Securities reaffirmed a buy rating and set a $15.00 price target on shares of Adeia in a research note on Thursday, June 20th.

Adeia Stock Performance

Shares of ADEA opened at $11.37 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market capitalization of $1.23 billion, a P/E ratio of 33.44 and a beta of 1.47. The company’s fifty day moving average is $11.38 and its two-hundred day moving average is $11.30. Adeia has a 1 year low of $8.11 and a 1 year high of $13.39.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $83.41 million for the quarter, compared to analysts’ expectations of $83.55 million. Adeia had a net margin of 11.06% and a return on equity of 33.89%. On average, sell-side analysts predict that Adeia will post 1.2 earnings per share for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. Adeia’s dividend payout ratio (DPR) is presently 58.83%.

Hedge Funds Weigh In On Adeia

A number of institutional investors and hedge funds have recently made changes to their positions in ADEA. Highlander Capital Management LLC lifted its holdings in Adeia by 267.3% in the 4th quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after purchasing an additional 1,518 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Adeia by 55.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock worth $45,000 after purchasing an additional 1,291 shares in the last quarter. EMC Capital Management grew its position in Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares in the last quarter. Saxon Interests Inc. acquired a new stake in Adeia in the fourth quarter valued at approximately $183,000. Finally, Aristides Capital LLC acquired a new stake in Adeia in the first quarter valued at approximately $213,000. 97.36% of the stock is owned by institutional investors and hedge funds.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.