Adeia (NASDAQ:ADEA) Hits New 12-Month High – Should You Buy?

Adeia Inc. (NASDAQ:ADEA) hit a new 52-week high during trading on Monday . The stock traded as high as $24.26 and last traded at $24.3350, with a volume of 285947 shares changing hands. The stock had previously closed at $23.21.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group set a $20.00 price objective on shares of Adeia in a research report on Tuesday, December 23rd. BWS Financial restated a “buy” rating and set a $30.00 price target on shares of Adeia in a research note on Monday, March 9th. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Rosenblatt Securities upped their price objective on shares of Adeia to $40.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

Adeia Stock Performance

The company has a market cap of $2.67 billion, a P/E ratio of 24.97 and a beta of 1.41. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $19.90 and its 200 day moving average price is $16.94.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The business had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. As a group, research analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Adeia’s payout ratio is currently 20.41%.

Institutional Investors Weigh In On Adeia

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Adeia by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock worth $855,000 after purchasing an additional 2,829 shares during the last quarter. Caxton Associates LLP bought a new position in Adeia in the 1st quarter worth approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Adeia by 22.8% during the first 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 buying an additional 42,918 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after acquiring an additional 321,976 shares during the period. Finally, Focus Partners Wealth acquired a new stake in shares of Adeia in the first quarter worth $167,000. 97.36% of the stock is owned by institutional investors and hedge funds.

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.