Adeia (NASDAQ:ADEA) Trading Up 13.2% – Here’s What Happened

Shares of Adeia Inc. (NASDAQ:ADEA) shot up 13.2% during mid-day trading on Monday . The company traded as high as $33.24 and last traded at $33.4380. 2,570,625 shares traded hands during trading, an increase of 113% from the average session volume of 1,205,905 shares. The stock had previously closed at $29.53.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings upgraded Adeia from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. BWS Financial restated a “buy” rating and issued a $30.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Roth Mkm restated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $33.60.

Adeia Stock Performance

The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 29.48 and a beta of 1.48. The company has a fifty day moving average price of $25.34 and a two-hundred day moving average price of $19.40.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $104.77 million during the quarter, compared to analyst estimates of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. As a group, equities research analysts expect that Adeia Inc. will post 1.18 EPS for the current year.

Adeia Announces Dividend

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

Institutional Investors Weigh In On Adeia

Hedge funds have recently modified their holdings of the stock. Hantz Financial Services Inc. lifted its holdings in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares during the last quarter. IFP Advisors Inc purchased a new stake in shares of Adeia during the third quarter valued at $28,000. Quarry LP lifted its holdings in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the last quarter. GHP Investment Advisors Inc. purchased a new stake in shares of Adeia during the first quarter valued at $58,000. Finally, CWM LLC lifted its holdings in shares of Adeia by 436.0% during the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.