Adeia (NASDAQ:ADEA) Shares Gap Up – Here’s What Happened

Adeia Inc. (NASDAQ:ADEA) shares gapped up prior to trading on Monday . The stock had previously closed at $12.77, but opened at $16.20. Adeia shares last traded at $15.93, with a volume of 609,085 shares traded.

Wall Street Analyst Weigh In

ADEA has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a report on Monday, December 15th. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a report on Monday, November 3rd. BWS Financial reiterated a “buy” rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday, November 4th. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, November 4th. Finally, Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Adeia Trading Up 33.9%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 3.72. The stock has a market capitalization of $1.87 billion, a P/E ratio of 26.48 and a beta of 1.51. The stock has a 50-day moving average price of $14.11 and a two-hundred day moving average price of $14.54.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm had revenue of $87.34 million for the quarter, compared to the consensus estimate of $99.24 million. Adeia had a net margin of 19.32% and a return on equity of 29.36%. On average, research analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, November 24th. Adeia’s dividend payout ratio is 30.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADEA. Invesco Ltd. increased its holdings in Adeia by 122.2% during the first quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock valued at $12,709,000 after buying an additional 528,617 shares during the last quarter. American Century Companies Inc. lifted its position in Adeia by 19.2% during the first quarter. American Century Companies Inc. now owns 275,393 shares of the company’s stock valued at $3,641,000 after purchasing an additional 44,439 shares in the last quarter. Brooklyn Investment Group bought a new stake in Adeia during the first quarter valued at about $44,000. Wellington Management Group LLP grew its holdings in Adeia by 11.0% during the first quarter. Wellington Management Group LLP now owns 1,229,245 shares of the company’s stock valued at $16,251,000 after purchasing an additional 121,424 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Adeia in the first quarter worth about $43,000. Institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.