Adeia (NASDAQ:ADEA) Stock Price Down 3.5%

Adeia Inc. (NASDAQ:ADEA)’s stock price was down 3.5% during mid-day trading on Tuesday . The stock traded as low as $11.87 and last traded at $11.87. Approximately 242,722 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 492,491 shares. The stock had previously closed at $12.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Adeia in a report on Thursday, June 20th.

Adeia Trading Down 4.4 %

The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 36.18 and a beta of 1.46. The business has a 50-day moving average of $11.67 and a two-hundred day moving average of $11.21.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $87.35 million for the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Research analysts predict that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, August 27th. Adeia’s payout ratio is 58.82%.

Institutional Investors Weigh In On Adeia

Several large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Adeia during the 2nd quarter valued at about $47,000. EMC Capital Management boosted its holdings in shares of Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after acquiring an additional 2,360 shares in the last quarter. Algert Global LLC bought a new stake in Adeia during the 2nd quarter worth approximately $122,000. Aristides Capital LLC acquired a new stake in Adeia during the 1st quarter valued at $213,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Adeia by 35.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after purchasing an additional 5,316 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

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.