BWS Financial Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its price target hoisted by BWS Financial from $16.00 to $18.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

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

Adeia Stock Performance

Shares of ADEA stock opened at $16.39 on Wednesday. The stock’s fifty day simple moving average is $13.46 and its 200-day simple moving average is $12.55. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 45.53 and a beta of 1.37. 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 issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 28.37% and a net margin of 12.01%. During the same quarter in the prior year, the company earned $0.27 EPS. On average, sell-side analysts predict that Adeia will post 1 earnings per share for the current fiscal year.

Adeia Announces Dividend

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

Institutional Investors Weigh In On Adeia

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC boosted its stake in shares of Adeia by 66.2% during the 3rd quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after acquiring an additional 79,565 shares in the last quarter. Harvey Partners LLC boosted its position in Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares during the period. Barclays PLC grew its holdings in Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock valued at $2,728,000 after purchasing an additional 78,276 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after purchasing an additional 78,135 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Adeia by 21.9% in the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock valued at $1,185,000 after purchasing an additional 17,905 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.