Adeia’s (ADEA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report issued on Friday morning,Benzinga reports. Rosenblatt Securities currently has a $15.00 target price on the stock.

Separately, BWS Financial reissued a “buy” rating and set a $16.00 price target on shares of Adeia in a research note on Thursday, September 26th.

Adeia Price Performance

Shares of ADEA opened at $11.96 on Friday. Adeia has a twelve month low of $9.00 and a twelve month high of $14.24. The stock’s 50 day moving average is $12.11 and its two-hundred day moving average is $11.60. The firm has a market capitalization of $1.30 billion, a PE ratio of 33.22 and a beta of 1.44. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.67%. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ADEA. Innealta Capital LLC acquired a new stake in Adeia in the 2nd quarter valued at $47,000. EMC Capital Management grew its stake in shares of Adeia by 27.8% during 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. Algert Global LLC acquired a new stake in shares of Adeia during the second quarter valued at about $122,000. Seizert Capital Partners LLC acquired a new stake in shares of Adeia during the third quarter valued at about $197,000. Finally, Aristides Capital LLC acquired a new stake in shares of Adeia during the first quarter valued at about $213,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.