Brokerages Set Adeia Inc. (NASDAQ:ADEA) Price Target at $33.60

Shares of Adeia Inc. (NASDAQ:ADEA) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $33.60.

ADEA has been the topic of a number of recent research reports. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. BWS Financial reissued a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Roth Mkm reissued a “buy” rating and issued a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Finally, Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th.

Adeia Trading Down 1.3%

NASDAQ:ADEA opened at $31.38 on Thursday. Adeia has a fifty-two week low of $11.61 and a fifty-two week high of $34.34. 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 stock has a market capitalization of $3.46 billion, a PE ratio of 29.06 and a beta of 1.40. The business’s 50-day simple moving average is $29.26 and its 200-day simple moving average is $22.52.

Adeia (NASDAQ:ADEA) last released 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. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $99.72 million. Sell-side analysts expect that Adeia will post 1.15 earnings per share for the current fiscal year.

Adeia Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of Adeia by 29.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after purchasing an additional 57,878 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Adeia by 39.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after purchasing an additional 296,742 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Adeia during the 3rd quarter worth approximately $3,259,000. Public Sector Pension Investment Board increased its position in shares of Adeia by 15.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after purchasing an additional 68,745 shares during the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Adeia during the 4th quarter worth approximately $833,000. Institutional investors and hedge funds 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.