Adeia (NASDAQ:ADEA) Shares Down 7.4% – Time to Sell?

Adeia Inc. (NASDAQ:ADEA) shares were down 7.4% on Monday . The stock traded as low as $27.30 and last traded at $27.6670. Approximately 565,371 shares changed hands during trading, a decline of 56% from the average daily volume of 1,299,157 shares. The stock had previously closed at $29.88.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADEA shares. BWS Financial reissued a “buy” rating and set a $30.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Weiss Ratings raised shares of Adeia from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Maxim Group set a $35.00 price target on shares of Adeia in a report on Wednesday, May 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.60.

Adeia Price Performance

The business’s 50 day moving average price is $26.59 and its 200 day moving average price is $19.99. The stock has a market capitalization of $3.02 billion, a P/E ratio of 25.25 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44.

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

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management boosted its stake in shares of Adeia by 2.5% during the 1st quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock worth $360,000 after acquiring an additional 364 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Adeia by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock worth $365,000 after acquiring an additional 656 shares during the last quarter. Redmond Asset Management LLC boosted its stake in shares of Adeia by 0.4% during the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after acquiring an additional 727 shares during the last quarter. Amundi boosted its stake in shares of Adeia by 4.5% during the 4th quarter. Amundi now owns 19,003 shares of the company’s stock worth $328,000 after acquiring an additional 827 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after purchasing an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

About Adeia

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.