Adeia (NASDAQ:ADEA) Earns “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

A number of other research firms have also recently weighed in on ADEA. BWS Financial upped their price target on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Maxim Group increased their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Adeia Stock Performance

ADEA opened at $15.72 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of 27.58 and a beta of 1.37. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The stock’s 50 day simple moving average is $13.75 and its 200 day simple moving average is $12.79. Adeia has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the prior year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is 35.09%.

Institutional Investors Weigh In On Adeia

Several hedge funds have recently made changes to their positions in ADEA. Stephens Inc. AR boosted its holdings in shares of Adeia by 5.3% during the third quarter. Stephens Inc. AR now owns 593,636 shares of the company’s stock worth $7,070,000 after purchasing an additional 29,889 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Adeia by 169.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock worth $1,061,000 after buying an additional 55,979 shares during the period. Royce & Associates LP raised its position in shares of Adeia by 22.2% in the 3rd quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock worth $3,307,000 after buying an additional 50,512 shares during the period. Empowered Funds LLC raised its position in shares of Adeia by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after buying an additional 6,700 shares during the period. Finally, Seizert Capital Partners LLC purchased a new position in shares of Adeia in the 3rd quarter worth $197,000. Institutional investors and hedge funds 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.