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

Adeia Inc. (NASDAQ:ADEA) announced a quarterly dividend on Wednesday, October 23rd,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.05 per share on Wednesday, December 18th. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 27th.

Adeia has decreased its dividend payment by an average of 26.3% annually over the last three years. Adeia has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Adeia to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 20.6%.

Adeia Stock Up 1.7 %

Shares of ADEA stock opened at $12.25 on Tuesday. Adeia has a 52-week low of $9.05 and a 52-week high of $14.24. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 34.03 and a beta of 1.44. The firm’s 50-day moving average is $12.13 and its 200-day moving average is $11.69. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and set a $16.00 price objective on shares of Adeia in a research report on Monday, November 11th.

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.