Adeia’s (ADEA) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report released on Thursday morning, Benzinga reports. They currently have a $15.00 price objective on the stock.

Separately, BWS Financial restated a buy rating and issued a $16.00 target price on shares of Adeia in a research report on Tuesday, May 7th.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $11.02 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The stock has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $11.28. The company has a market cap of $1.20 billion, a PE ratio of 32.41 and a beta of 1.44. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $83.41 million during the quarter, compared to the consensus estimate of $83.55 million. Adeia had a return on equity of 33.89% and a net margin of 11.06%. On average, equities research analysts forecast that Adeia will post 1.2 EPS for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.20 dividend on an annualized basis and a yield of 1.81%. Adeia’s dividend payout ratio (DPR) is 58.83%.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently added to or reduced their stakes in ADEA. Boston Partners lifted its position in shares of Adeia by 16.5% during the 1st quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after acquiring an additional 325,342 shares during the last quarter. EMC Capital Management lifted its position in shares of Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the last quarter. Comerica Bank lifted its position in shares of Adeia by 42.2% during the 1st quarter. Comerica Bank now owns 72,306 shares of the company’s stock valued at $790,000 after acquiring an additional 21,454 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Adeia by 3.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 496,830 shares of the company’s stock valued at $5,425,000 after acquiring an additional 14,649 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in shares of Adeia during the 1st quarter valued at $213,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

About Adeia

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.