BWS Financial Reiterates “Buy” Rating for Adeia (NASDAQ:ADEA)

BWS Financial reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note published on Friday, Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Rosenblatt Securities initiated coverage on shares of Adeia in a research report on Friday, February 23rd. They set a buy rating and a $15.00 target price on the stock.

Adeia Price Performance

ADEA opened at $9.94 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46. Adeia has a 52-week low of $7.12 and a 52-week high of $13.39. The company has a 50 day moving average of $11.04 and a two-hundred day moving average of $10.66. The company has a market cap of $1.08 billion, a P/E ratio of 16.85 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Adeia had a net margin of 17.33% and a return on equity of 42.74%. The company had revenue of $86.87 million during the quarter, compared to the consensus estimate of $89.23 million. On average, analysts expect that Adeia will post 1.18 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.01%. Adeia’s payout ratio is currently 33.90%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Adeia in the first quarter valued at $147,767,000. Dimensional Fund Advisors LP acquired a new stake in Adeia in the first quarter valued at $32,577,000. Harvey Partners LLC acquired a new stake in Adeia in the first quarter valued at $26,580,000. Geode Capital Management LLC acquired a new stake in Adeia in the first quarter valued at $18,728,000. Finally, Boston Partners raised its holdings in Adeia by 173.0% in the fourth quarter. Boston Partners now owns 1,970,774 shares of the company’s stock valued at $24,239,000 after acquiring an additional 1,248,949 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

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.