Adeia (NASDAQ:ADEA) Sets New 52-Week High – Here’s Why

Adeia Inc. (NASDAQ:ADEA)’s stock price hit a new 52-week high on Thursday . The company traded as high as $21.07 and last traded at $21.00, with a volume of 1329442 shares changing hands. The stock had previously closed at $20.75.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Rosenblatt Securities lifted their target price on Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Maxim Group upped their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, UBS Group set a $20.00 price target on shares of Adeia in a report on Tuesday, December 23rd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Adeia Stock Performance

The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 21.43 and a beta of 1.41. The company’s 50-day simple moving average is $18.73 and its 200-day simple moving average is $16.30. 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 posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The company had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. Analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Adeia’s dividend payout ratio is currently 20.41%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADEA. Hantz Financial Services Inc. boosted its holdings in Adeia by 447.0% in the fourth 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 in the last quarter. Quarry LP lifted its position in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Adeia during the 3rd quarter worth about $28,000. Osaic Holdings Inc. increased its holdings in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after acquiring an additional 1,988 shares in the last quarter. 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.