Adeia (NASDAQ:ADEA) Hits New 52-Week High – Time to Buy?

Adeia Inc. (NASDAQ:ADEA) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.48 and last traded at $18.6630, with a volume of 133840 shares. The stock had previously closed at $17.58.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of recent analyst reports. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Rosenblatt Securities increased their price target on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Maxim Group lifted their price target on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a report on Monday, December 29th. Finally, BWS Financial lifted their target price on shares of Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Adeia Price Performance

The company’s 50 day moving average price is $14.22 and its 200 day moving average price is $14.81. 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 company has a market cap of $2.05 billion, a price-to-earnings ratio of 28.82 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results 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). 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, equities research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, November 24th. Adeia’s dividend payout ratio (DPR) is currently 30.77%.

Institutional Trading of Adeia

Large investors have recently made changes to their positions in the business. Quarry LP lifted its stake in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in Adeia in the third quarter valued at about $28,000. Osaic Holdings Inc. lifted its stake in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares during the period. CWM LLC lifted its stake in Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Adeia during the 3rd quarter worth about $56,000. 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.