Adeia Inc. (NASDAQ:ADEA) Stock Has Consensus Price Target of $37.60 According to Analysts

Adeia Inc. (NASDAQ:ADEA) has been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.60.

A number of brokerages recently issued reports on ADEA. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Zacks Research upgraded shares of Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. BWS Financial reissued a “buy” rating and issued a $50.00 target price on shares of Adeia in a research report on Wednesday, October 7th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, September 29th.

Institutional Investors Weigh In On Adeia

Several large investors have recently modified their holdings of ADEA. Assenagon Asset Management S.A. lifted its holdings in shares of Adeia by 10.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 129,376 shares of the company’s stock valued at $3,312,000 after buying an additional 12,155 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Adeia by 66.1% during the third quarter. Farther Finance Advisors LLC now owns 2,083 shares of the company’s stock valued at $53,000 after buying an additional 829 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Adeia during the second quarter worth approximately $458,000. NewEdge Advisors LLC grew its stake in Adeia by 29.2% in the 2nd quarter. NewEdge Advisors LLC now owns 30,258 shares of the company’s stock worth $996,000 after acquiring an additional 6,832 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Adeia in the 2nd quarter worth approximately $3,028,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

Shares of ADEA opened at $20.42 on Wednesday. The stock has a fifty day moving average price of $25.65 and a 200-day moving average price of $27.67. The firm has a market cap of $2.25 billion, a PE ratio of 18.91 and a beta of 1.35. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. Adeia has a 12 month low of $11.61 and a 12 month high of $34.34.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $96.12 million for the quarter, compared to analyst estimates of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. Equities research analysts predict that Adeia will post 1.17 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, August 24th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 24th. Adeia’s dividend payout ratio is currently 18.52%.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company’s technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.