Adeia Inc. (NASDAQ:ADEA) Announces $0.05 Quarterly Dividend

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Wednesday, February 19th,Wall Street Journal reports. Investors of record on Monday, March 10th will be paid a dividend of 0.05 per share on Monday, March 31st. This represents a $0.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Monday, March 10th.

Adeia Stock Up 21.7 %

NASDAQ ADEA opened at $16.39 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia has a fifty-two week low of $9.68 and a fifty-two week high of $17.27. The stock has a market capitalization of $1.79 billion, a PE ratio of 28.75 and a beta of 1.37. The business has a fifty day moving average price of $13.46 and a two-hundred day moving average price of $12.55.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 33.58% and a net margin of 17.19%. During the same quarter in the previous year, the business posted $0.27 earnings per share. Equities analysts expect that Adeia will post 1.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on ADEA. Maxim Group increased their price objective on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday. BWS Financial raised their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 target price on shares of Adeia in a report on Tuesday.

Adeia Company Profile

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.