Adeia (NASDAQ:ADEA) Price Target Raised to $30.00

Adeia (NASDAQ:ADEA) had its price target hoisted by Rosenblatt Securities from $20.00 to $30.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

ADEA has been the subject of a number of other reports. Roth Mkm reissued a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. BWS Financial boosted their price objective on Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, December 29th. UBS Group set a $20.00 price objective on Adeia in a report on Tuesday, December 23rd. Maxim Group raised their target price on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Finally, Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $25.20.

Adeia Trading Up 0.9%

NASDAQ:ADEA opened at $20.85 on Tuesday. The firm has a market capitalization of $2.28 billion, a P/E ratio of 21.28 and a beta of 1.44. The business has a 50 day simple moving average of $18.37 and a 200 day simple moving average of $16.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.72. Adeia has a 12-month low of $10.59 and a 12-month high of $21.07.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The firm had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. Equities research analysts predict that Adeia will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. Adeia’s dividend payout ratio (DPR) is 20.41%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Adeia by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock worth $855,000 after acquiring an additional 2,829 shares during the period. Caxton Associates LLP acquired a new position in shares of Adeia in the 1st quarter worth approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Adeia by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after purchasing an additional 42,918 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Adeia by 1,193.2% in the 1st 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 in the last quarter. Finally, Focus Partners Wealth acquired a new stake in Adeia during the first quarter valued at approximately $167,000. Institutional investors own 97.36% of the company’s stock.

About Adeia

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.