Adeia Inc. (NASDAQ:ADEA) Stock Has Average Target Price of $37.60 According to Analysts

Shares of Adeia Inc. (NASDAQ:ADEA) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.60.

Several analysts recently commented on ADEA shares. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research report on Tuesday, September 29th. Weiss Ratings downgraded shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 29th. Finally, BWS Financial reissued a “buy” rating and issued a $50.00 price target on shares of Adeia in a report on Wednesday, October 7th.

Adeia Trading Up 1.2%

NASDAQ:ADEA opened at $21.30 on Wednesday. Adeia has a 12-month low of $11.61 and a 12-month high of $34.34. The firm has a market capitalization of $2.35 billion, a P/E ratio of 19.72 and a beta of 1.35. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The business has a 50 day simple moving average of $25.39 and a 200 day simple moving average of $27.62.

Adeia (NASDAQ:ADEA) last posted its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $96.12 million for the quarter, compared to analysts’ expectations of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. Equities research analysts predict that Adeia will post 1.17 EPS for the current year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 14th. Investors of record on Monday, August 24th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, August 24th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Institutional Investors Weigh In On Adeia

Several large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Adeia in the second quarter worth about $34,000. Rockefeller Capital Management L.P. increased its position in shares of Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after acquiring an additional 1,781 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Adeia by 66.1% in the third quarter. Farther Finance Advisors LLC now owns 2,083 shares of the company’s stock worth $53,000 after acquiring an additional 829 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Adeia during the second quarter valued at approximately $54,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Adeia during the first quarter valued at approximately $58,000. 97.36% of the stock is owned by institutional investors.

About Adeia

Adeia Inc is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacture and packaging of advanced electronic devices. Rather than producing semiconductors itself, the company works with chipmakers, foundries and other industry participants to commercialize its intellectual property.

Adeia’s portfolio includes technologies for three-dimensional semiconductor integration, hybrid bonding, advanced packaging, memory and chip-to-chip connectivity.