Adeia’s (ADEA) Buy Rating Reaffirmed at BWS Financial

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

Separately, Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Adeia in a research note on Friday.

Adeia Price Performance

ADEA opened at $11.96 on Monday. Adeia has a 1 year low of $9.00 and a 1 year high of $14.24. The company’s 50 day simple moving average is $12.11 and its 200 day simple moving average is $11.60. The stock has a market capitalization of $1.30 billion, a PE ratio of 33.22 and a beta of 1.44. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00.

Adeia Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.67%. Adeia’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ADEA. Wedge Capital Management L L P NC raised its holdings in shares of Adeia by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock valued at $1,129,000 after buying an additional 875 shares during the period. Gallacher Capital Management LLC lifted its position in shares of Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock worth $266,000 after purchasing an additional 1,186 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Adeia by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,215 shares during the period. Illinois Municipal Retirement Fund grew its holdings in Adeia by 2.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock valued at $687,000 after purchasing an additional 1,420 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Adeia by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock worth $236,000 after buying an additional 1,483 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.