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

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Investors of record on Tuesday, May 28th will be given a dividend of 0.05 per share on Tuesday, June 18th. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, May 24th.

Adeia has decreased its dividend payment by an average of 26.3% per year over the last three years. Adeia has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings.

Adeia Trading Down 0.4 %

NASDAQ:ADEA opened at $11.73 on Thursday. The stock’s 50 day moving average price is $10.67 and its 200 day moving average price is $11.01. Adeia has a 52 week low of $8.11 and a 52 week high of $13.39. The company has a market capitalization of $1.27 billion, a P/E ratio of 34.50 and a beta of 1.43. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million during the quarter, compared to analysts’ expectations of $89.23 million. Adeia had a return on equity of 33.89% and a net margin of 11.06%. On average, research analysts forecast that Adeia will post 1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

ADEA has been the subject of a number of recent analyst reports. Rosenblatt Securities initiated coverage on Adeia in a research report on Friday, February 23rd. They set a “buy” rating and a $15.00 target price for the company. BWS Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Tuesday, May 7th.

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.