Adeia (NASDAQ:ADEA) Price Target Raised to $18.00

Adeia (NASDAQ:ADEA) had its price target lifted by BWS Financial from $16.00 to $18.00 in a research note released on Wednesday,Benzinga reports. BWS Financial currently has a buy rating on the stock.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 target price on shares of Adeia in a report on Tuesday.

Adeia Trading Up 0.6 %

Shares of NASDAQ ADEA opened at $17.23 on Wednesday. Adeia has a 1 year low of $9.68 and a 1 year high of $17.46. The stock has a market cap of $1.88 billion, a P/E ratio of 30.23 and a beta of 1.37. The firm has a 50-day moving average of $13.58 and a 200 day moving average of $12.63. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.42.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The company had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. During the same period last year, the company posted $0.27 EPS. As a group, sell-side analysts expect that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.16%. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ADEA. Ameriprise Financial Inc. grew its stake in shares of Adeia by 6.3% in the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company’s stock worth $204,902,000 after acquiring an additional 874,098 shares during the period. Vanguard Group Inc. grew its stake in shares of Adeia by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company’s stock worth $201,642,000 after acquiring an additional 143,297 shares during the period. State Street Corp grew its stake in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after acquiring an additional 91,288 shares during the period. Harvey Partners LLC grew its stake in shares of Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after acquiring an additional 168,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Adeia by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company’s stock worth $39,894,000 after acquiring an additional 60,941 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.