Adeia (NASDAQ:ADEA) Hits New 1-Year High – Here’s Why

Adeia Inc. (NASDAQ:ADEA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $24.26 and last traded at $24.3350, with a volume of 285947 shares traded. The stock had previously closed at $23.21.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADEA shares. Rosenblatt Securities increased their price target on Adeia to $40.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Roth Mkm upped their price objective on shares of Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Wall Street Zen upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 7th. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, BWS Financial restated a “buy” rating and set a $30.00 price target on shares of Adeia in a report on Monday, March 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.80.

Adeia Stock Up 5.4%

The firm has a 50-day moving average of $19.90 and a two-hundred day moving average of $16.94. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 24.97 and a beta of 1.41. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. As a group, sell-side analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, March 16th. Adeia’s dividend payout ratio is currently 20.41%.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after acquiring an additional 1,781 shares in the last quarter. Corient Private Wealth LLC boosted its position in Adeia by 13.7% during the fourth quarter. Corient Private Wealth LLC now owns 11,738 shares of the company’s stock valued at $202,000 after purchasing an additional 1,410 shares during the last quarter. Pacer Advisors Inc. grew its stake in Adeia by 5.9% in the fourth quarter. Pacer Advisors Inc. now owns 564,941 shares of the company’s stock valued at $9,745,000 after purchasing an additional 31,355 shares in the last quarter. Invesco Ltd. increased its position in Adeia by 16.5% in the 4th quarter. Invesco Ltd. now owns 544,875 shares of the company’s stock worth $9,399,000 after purchasing an additional 77,359 shares during the last quarter. Finally, Vident Advisory LLC raised its stake in shares of Adeia by 20.1% during the 4th quarter. Vident Advisory LLC now owns 52,470 shares of the company’s stock worth $905,000 after purchasing an additional 8,790 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.