Adeia’s (ADEA) Buy Rating Reaffirmed at BWS Financial

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report released on Friday morning, Benzinga reports. BWS Financial currently has a $16.00 target price on the stock.

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

Adeia Stock Up 2.2 %

Shares of ADEA stock opened at $9.94 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. Adeia has a one year low of $7.12 and a one year high of $13.39. The company’s fifty day moving average price is $11.10 and its 200-day moving average price is $10.66. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.85 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 20th. The company reported $0.24 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 firm had revenue of $86.87 million for the quarter, compared to the consensus estimate of $89.23 million. Sell-side analysts expect that Adeia will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

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 of this dividend was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.01%. Adeia’s dividend payout ratio is currently 33.90%.

Institutional Investors Weigh In On Adeia

Several large investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in Adeia by 4.3% in the second quarter. BlackRock Inc. now owns 17,395,494 shares of the company’s stock worth $191,524,000 after purchasing an additional 717,508 shares during the last quarter. Vanguard Group Inc. increased its position in Adeia by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 13,985,101 shares of the company’s stock worth $173,275,000 after purchasing an additional 43,135 shares during the last quarter. Rubric Capital Management LP increased its position in Adeia by 1.0% in the third quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock worth $49,555,000 after purchasing an additional 47,448 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Adeia in the first quarter worth $32,577,000. Finally, Pacer Advisors Inc. increased its position in Adeia by 35.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after purchasing an additional 903,568 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

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.