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

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Wednesday, February 19th,Wall Street Journal reports. Investors of record on Monday, March 10th will be paid a dividend of 0.05 per share on Monday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, March 10th.

Adeia Stock Up 21.7 %

NASDAQ:ADEA traded up $2.92 during trading hours on Wednesday, hitting $16.39. 2,565,510 shares of the company traded hands, compared to its average volume of 491,866. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.79 billion, a PE ratio of 45.53 and a beta of 1.37. The firm’s 50-day simple moving average is $13.42 and its 200-day simple moving average is $12.50. Adeia has a one year low of $9.68 and a one year high of $17.27.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a net margin of 12.01% and a return on equity of 28.37%. The company had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same period last year, the firm earned $0.27 earnings per share. Equities analysts predict that Adeia will post 1 earnings per share for the current year.

Analysts Set New Price Targets

ADEA has been the topic of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday. BWS Financial lifted their price target on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Maxim Group increased their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday.

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.