Maxim Group Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its price target increased by Maxim Group from $15.00 to $17.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

ADEA has been the topic of a number of other research reports. BWS Financial boosted their price objective on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $18.00 target price on shares of Adeia in a research report on Tuesday.

Adeia Stock Performance

NASDAQ:ADEA opened at $16.39 on Wednesday. The stock has a market cap of $1.79 billion, a P/E ratio of 45.53 and a beta of 1.37. The stock has a 50 day simple moving average of $13.46 and a 200 day simple moving average of $12.55. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia has a 1-year low of $9.68 and a 1-year high of $17.27.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Adeia had a return on equity of 28.37% and a net margin of 12.01%. The firm had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. During the same period in the previous year, the firm earned $0.27 EPS. Research analysts anticipate that Adeia will post 1 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 10th. Adeia’s payout ratio is 55.56%.

Institutional Trading of Adeia

Institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Adeia by 27.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,503 shares of the company’s stock worth $2,635,000 after buying an additional 41,017 shares during the last quarter. Vident Advisory LLC increased its position in Adeia by 6.8% in the fourth quarter. Vident Advisory LLC now owns 43,776 shares of the company’s stock worth $612,000 after buying an additional 2,786 shares during the last quarter. Systematic Financial Management LP increased its position in Adeia by 5.4% in the fourth quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company’s stock worth $31,822,000 after buying an additional 116,087 shares during the last quarter. ProShare Advisors LLC increased its position in Adeia by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 32,799 shares of the company’s stock worth $459,000 after buying an additional 10,096 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Adeia by 9.4% in the fourth quarter. Nuveen Asset Management LLC now owns 845,508 shares of the company’s stock worth $11,820,000 after buying an additional 72,813 shares during the last quarter. 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.