Adeia Inc. (NASDAQ:ADEA) Stock Has Consensus Price Target of $36.60

Adeia Inc. (NASDAQ:ADEA) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $36.60.

A number of equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 29th. Rosenblatt Securities dropped their target price on Adeia from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Zacks Research cut Adeia from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 5th. Finally, BWS Financial reissued a “buy” rating and set a $50.00 target price on shares of Adeia in a research note on Wednesday, October 7th.

Adeia Stock Performance

Shares of ADEA stock traded down $0.41 during mid-day trading on Friday, hitting $16.22. The stock had a trading volume of 858,856 shares, compared to its average volume of 1,647,460. Adeia has a fifty-two week low of $11.61 and a fifty-two week high of $34.34. The firm has a market cap of $1.79 billion, a PE ratio of 15.90 and a beta of 1.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.64 and a quick ratio of 3.64. The company’s 50-day simple moving average is $22.61 and its 200-day simple moving average is $25.35.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, November 2nd. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). Adeia had a net margin of 25.04% and a return on equity of 36.17%. The firm had revenue of $80.19 million during the quarter, compared to analysts’ expectations of $98.88 million. Sell-side analysts anticipate that Adeia will post 1.03 earnings per share for the current year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 14th. Investors of record on Monday, November 23rd will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 23rd. Adeia’s dividend payout ratio is currently 19.61%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADEA. Squarepoint Ops LLC acquired a new stake in shares of Adeia in the 2nd quarter worth approximately $3,028,000. State of Wyoming purchased a new position in Adeia in the 2nd quarter valued at approximately $1,550,000. Irenic Capital Management LP increased its stake in Adeia by 217.5% in the 2nd quarter. Irenic Capital Management LP now owns 634,772 shares of the company’s stock valued at $20,903,000 after purchasing an additional 434,872 shares in the last quarter. Fifth Third Bancorp raised its holdings in Adeia by 13,439.1% during the first quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock worth $1,347,000 after purchasing an additional 55,638 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in Adeia during the second quarter worth $573,267,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc. is an intellectual-property licensing company focused on technologies used in media, entertainment, consumer electronics and semiconductors. Rather than primarily selling consumer products, it develops and licenses innovations that other companies can incorporate into their products and services. Its portfolio includes media technologies related to content discovery and entertainment experiences, as well as semiconductor technologies used in areas such as advanced packaging and chip manufacturing.