Adeia (NASDAQ:ADEA) Price Target Raised to $20.00

Adeia (NASDAQ:ADEA) had its price objective upped by Rosenblatt Securities from $17.00 to $20.00 in a research note issued to investors on Monday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on ADEA. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a research note on Monday, December 15th. BWS Financial reissued a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday, November 4th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Roth Capital reiterated a “buy” rating on shares of Adeia in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Adeia Stock Performance

Adeia stock opened at $17.34 on Monday. The firm has a market capitalization of $1.90 billion, a PE ratio of 26.68 and a beta of 1.51. Adeia has a one year low of $10.59 and a one year high of $18.25. The stock’s 50 day moving average price is $14.14 and its 200 day moving average price is $14.61. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 3.72.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). Adeia had a net margin of 19.32% and a return on equity of 29.36%. The firm had revenue of $87.34 million during the quarter, compared to analyst estimates of $99.24 million. As a group, sell-side analysts expect that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, November 24th. Adeia’s dividend payout ratio (DPR) is 30.77%.

Institutional Trading of Adeia

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Adeia by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after purchasing an additional 395,462 shares during the period. Jane Street Group LLC boosted its holdings in Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after purchasing an additional 321,976 shares during the period. Assenagon Asset Management S.A. bought a new stake in Adeia during the third quarter valued at $3,353,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Adeia during the third quarter worth $3,342,000. Institutional investors and hedge funds 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.