Adeia (NASDAQ:ADEA) Price Target Raised to $17.00

Adeia (NASDAQ:ADEA) had its price target hoisted by Maxim Group from $15.00 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ADEA has been the topic of a number of other research reports. BWS Financial increased their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities restated a “buy” rating and issued a $18.00 price target on shares of Adeia in a research note on Tuesday.

Adeia Stock Up 0.6 %

ADEA opened at $17.23 on Wednesday. Adeia has a 1-year low of $9.68 and a 1-year high of $17.46. The stock’s fifty day simple moving average is $13.58 and its 200 day simple moving average is $12.63. The company has a current ratio of 3.53, a quick ratio of 3.42 and a debt-to-equity ratio of 1.15. The stock has a market cap of $1.88 billion, a PE ratio of 30.23 and a beta of 1.37.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, research analysts expect that Adeia will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is currently 35.09%.

Institutional Trading of Adeia

Several large investors have recently modified their holdings of ADEA. Stephens Inc. AR grew its holdings in shares of Adeia by 5.3% during the 3rd quarter. Stephens Inc. AR now owns 593,636 shares of the company’s stock worth $7,070,000 after purchasing an additional 29,889 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Adeia by 169.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock valued at $1,061,000 after buying an additional 55,979 shares in the last quarter. Royce & Associates LP boosted its stake in Adeia by 22.2% in the third quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after buying an additional 50,512 shares in the last quarter. Empowered Funds LLC boosted its stake in Adeia by 5.3% in the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after buying an additional 6,700 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in Adeia in the third quarter valued at about $197,000. 97.36% of the stock is owned by institutional investors and hedge funds.

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.