Adeia (NASDAQ:ADEA) Stock Rating Reaffirmed by BWS Financial

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report published on Thursday, Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

Separately, Rosenblatt Securities reissued a buy rating and issued a $15.00 target price on shares of Adeia in a research note on Thursday, June 20th.

Adeia Trading Down 0.3 %

Shares of ADEA opened at $11.93 on Thursday. Adeia has a twelve month low of $8.11 and a twelve month high of $13.39. The company has a market cap of $1.30 billion, a P/E ratio of 35.09 and a beta of 1.46. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The company’s fifty day simple moving average is $11.68 and its 200-day simple moving average is $11.22.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Adeia had a net margin of 12.87% and a return on equity of 33.28%. The business had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. As a group, analysts expect that Adeia will post 1.18 EPS for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, August 27th. Adeia’s payout ratio is presently 58.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ADEA. LSV Asset Management grew its holdings in shares of Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock worth $36,746,000 after purchasing an additional 1,259,857 shares during the last quarter. Norges Bank bought a new position in shares of Adeia in the fourth quarter worth about $9,198,000. Boston Partners grew its holdings in shares of Adeia by 16.5% in the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after purchasing an additional 325,342 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Adeia by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after purchasing an additional 159,254 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Adeia by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after purchasing an additional 132,718 shares during the last quarter. 97.36% of the stock is currently owned by 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.