Adeia (NASDAQ:ADEA) Trading Up 10.2% – What’s Next?

Adeia Inc. (NASDAQ:ADEA) shot up 10.2% during mid-day trading on Monday . The company traded as high as $31.78 and last traded at $31.9220. 971,333 shares traded hands during trading, a decline of 33% from the average session volume of 1,440,882 shares. The stock had previously closed at $28.98.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADEA. Maxim Group set a $35.00 target price on shares of Adeia in a research report on Wednesday, May 6th. BWS Financial reiterated a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Roth Mkm reiterated a “buy” rating and issued a $43.00 price target on shares of Adeia in a report on Tuesday, May 5th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Adeia Stock Performance

The stock’s 50 day moving average price is $28.13 and its 200 day moving average price is $21.43. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.48 billion, a PE ratio of 29.24 and a beta of 1.40.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The business had revenue of $104.77 million for the quarter, compared to the consensus estimate of $99.72 million. As a group, equities analysts forecast that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.6%. Adeia’s payout ratio is 18.52%.

Institutional Investors Weigh In On Adeia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in shares of Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the last quarter. Quarry LP increased its position in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Adeia in the 3rd quarter worth about $28,000. Osaic Holdings Inc. increased its position in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after purchasing an additional 1,781 shares during the last quarter. Hedge funds and other institutional investors 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.