Adeia (NASDAQ:ADEA) Reaches New 1-Year High on Analyst Upgrade

Adeia Inc. (NASDAQ:ADEA) shares reached a new 52-week high during trading on Thursday after Rosenblatt Securities raised their price target on the stock from $15.00 to $18.00. Rosenblatt Securities currently has a buy rating on the stock. Adeia traded as high as $14.34 and last traded at $14.31, with a volume of 122325 shares changing hands. The stock had previously closed at $13.89.

Separately, BWS Financial reissued a “buy” rating and set a $16.00 price target on shares of Adeia in a report on Wednesday, December 4th.

Institutional Trading of Adeia

A number of institutional investors have recently made changes to their positions in ADEA. Wedge Capital Management L L P NC lifted its position in Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after purchasing an additional 875 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of Adeia by 5.2% in the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after buying an additional 1,186 shares during the period. Louisiana State Employees Retirement System boosted its stake in Adeia by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock valued at $611,000 after buying an additional 1,500 shares in the last quarter. Rhumbline Advisers grew its holdings in Adeia by 0.6% during the second quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after acquiring an additional 1,904 shares during the period. Finally, Innealta Capital LLC bought a new stake in Adeia in the second quarter worth about $47,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Trading Up 3.0 %

The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm’s 50-day simple moving average is $12.38 and its 200 day simple moving average is $11.82. The stock has a market capitalization of $1.56 billion, a P/E ratio of 39.72 and a beta of 1.42.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.40%. Adeia’s payout ratio is currently 55.56%.

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.