Adeia (NASDAQ:ADEA) Price Target Raised to $18.00

Adeia (NASDAQ:ADEA) had its price objective boosted by BWS Financial from $16.00 to $18.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Rosenblatt Securities restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Tuesday.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $16.39 on Wednesday. Adeia has a 12 month low of $9.68 and a 12 month high of $17.27. The company has a market cap of $1.79 billion, a P/E ratio of 45.53 and a beta of 1.37. The business’s 50 day moving average is $13.46 and its two-hundred day moving average is $12.55. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 28.37% and a net margin of 12.01%. During the same period last year, the business earned $0.27 earnings per share. On average, equities analysts expect that Adeia will post 1 EPS for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management grew its holdings in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after purchasing an additional 972 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Adeia by 5.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock worth $272,000 after buying an additional 989 shares during the last quarter. MetLife Investment Management LLC grew its stake in Adeia by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 64,990 shares of the company’s stock worth $909,000 after buying an additional 1,804 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Adeia by 16.7% during the fourth quarter. Bank of Montreal Can now owns 14,003 shares of the company’s stock worth $196,000 after buying an additional 2,001 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Adeia by 1.1% in the fourth quarter. Swiss National Bank now owns 214,246 shares of the company’s stock valued at $2,995,000 after acquiring an additional 2,300 shares during the last quarter. 97.36% of the stock is currently 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.