Adeia (NASDAQ:ADEA) Trading Up 7.9% – Still a Buy?

Adeia Inc. (NASDAQ:ADEA) traded up 7.9% during mid-day trading on Wednesday . The company traded as high as $13.43 and last traded at $13.43. 180,792 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 478,632 shares. The stock had previously closed at $12.45.

Analysts Set New Price Targets

Several research analysts have recently commented on ADEA shares. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 target price on shares of Adeia in a report on Friday, November 8th.

Adeia Stock Performance

The company has a market capitalization of $1.46 billion, a PE ratio of 36.31 and a beta of 1.42. The stock’s 50-day simple moving average is $12.18 and its 200 day simple moving average is $11.76. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.50%. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Institutional Investors Weigh In On Adeia

A number of institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Adeia during the 2nd quarter worth approximately $47,000. Algert Global LLC purchased a new position in shares of Adeia in the 2nd quarter worth $122,000. Hohimer Wealth Management LLC acquired a new position in shares of Adeia during the 3rd quarter valued at $190,000. Seizert Capital Partners LLC purchased a new stake in shares of Adeia during the third quarter valued at approximately $197,000. Finally, Zacks Investment Management boosted its stake in shares of Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after purchasing an additional 5,902 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.