Adeia’s (ADEA) “Buy” Rating Reiterated at BWS Financial

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

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

Adeia Stock Down 0.3 %

Shares of ADEA stock opened at $11.93 on Thursday. Adeia has a 12 month low of $8.11 and a 12 month high of $13.39. The stock has a market cap of $1.29 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 has a 50 day simple moving average of $11.68 and a two-hundred day simple moving average of $11.23.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $83.74 million. On average, research analysts expect that Adeia will post 1.18 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Adeia’s payout ratio is 58.82%.

Hedge Funds Weigh In On Adeia

Several institutional investors have recently bought and sold shares of ADEA. Vanguard Group Inc. grew its stake in shares of Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after buying an additional 132,718 shares in the last quarter. LSV Asset Management grew its stake in shares of Adeia by 11.6% in the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after buying an additional 390,836 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after buying an additional 159,254 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Adeia by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,467,711 shares of the company’s stock worth $30,575,000 after acquiring an additional 25,846 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Adeia by 16.5% in the 1st quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after acquiring an additional 325,342 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.