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

BWS Financial restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report released on Tuesday morning, Benzinga reports. They currently have a $16.00 target price on the stock.

Separately, Rosenblatt Securities started coverage on shares of Adeia in a research report on Friday, February 23rd. They issued a buy rating and a $15.00 target price for the company.

Adeia Price Performance

ADEA stock opened at $11.23 on Tuesday. Adeia has a 12-month low of $8.08 and a 12-month high of $13.39. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $10.63 and its two-hundred day moving average price is $10.81. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 19.03 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last posted its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million for the quarter, compared to the consensus estimate of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. As a group, equities analysts predict that Adeia will post 1.18 earnings per share for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, May 24th. Adeia’s payout ratio is 33.90%.

Institutional Trading of Adeia

Hedge funds and other institutional investors have recently modified their holdings of the company. Foundry Partners LLC raised its position in shares of Adeia by 11.3% during the first quarter. Foundry Partners LLC now owns 576,421 shares of the company’s stock valued at $6,295,000 after buying an additional 58,297 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Adeia by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after acquiring an additional 1,483 shares during the period. Illinois Municipal Retirement Fund grew its stake in Adeia by 2.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock worth $687,000 after acquiring an additional 1,420 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Adeia by 8.2% in the 1st quarter. Empowered Funds LLC now owns 444,173 shares of the company’s stock worth $4,850,000 after buying an additional 33,590 shares during the period. Finally, LSV Asset Management boosted its stake in shares of Adeia by 59.8% during the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock valued at $36,746,000 after purchasing an additional 1,259,857 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.