Adeia (NASDAQ:ADEA) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

ADEA has been the subject of several other reports. BWS Financial boosted their target price on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Maxim Group boosted their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Adeia Trading Down 0.1 %

NASDAQ:ADEA opened at $15.72 on Friday. The stock has a 50-day simple moving average of $13.75 and a 200-day simple moving average of $12.79. The stock has a market cap of $1.69 billion, a P/E ratio of 27.58 and a beta of 1.37. Adeia has a 1 year low of $9.68 and a 1 year high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA) last posted its earnings results 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 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. During the same period in the previous year, the business earned $0.27 EPS. As a group, analysts anticipate that Adeia will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, March 10th. Adeia’s dividend payout ratio is presently 35.09%.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management raised its stake in Adeia by 52.1% during the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Adeia by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock valued at $272,000 after acquiring an additional 989 shares during the last quarter. MetLife Investment Management LLC raised its stake in Adeia by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 64,990 shares of the company’s stock valued at $909,000 after acquiring an additional 1,804 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Adeia by 16.7% during the 4th quarter. Bank of Montreal Can now owns 14,003 shares of the company’s stock worth $196,000 after buying an additional 2,001 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Adeia by 1.1% during the 4th quarter. Swiss National Bank now owns 214,246 shares of the company’s stock worth $2,995,000 after buying an additional 2,300 shares in 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.