Adeia Inc. (NASDAQ:ADEA) Announces Quarterly Dividend of $0.05

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Wednesday, February 19th,Wall Street Journal reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.05 per share on Monday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 10th.

Adeia Trading Up 21.7 %

Shares of Adeia stock traded up $2.92 on Wednesday, hitting $16.39. 2,565,510 shares of the company’s stock traded hands, compared to its average volume of 491,866. 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 fifty day moving average of $13.42 and a two-hundred day moving average of $12.50. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia has a one year low of $9.68 and a one year high of $17.27.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 12.01% and a return on equity of 28.37%. During the same quarter last year, the firm posted $0.27 EPS. As a group, sell-side analysts expect that Adeia will post 1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADEA. Rosenblatt Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Adeia in a report on Tuesday. BWS Financial increased their price target on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Maxim Group boosted their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday.

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.