Adeia (NASDAQ:ADEA) Shares Up 7.9% – Time to Buy?

Adeia Inc. (NASDAQ:ADEA)’s stock price shot up 7.9% during trading on Wednesday . The stock traded as high as $13.43 and last traded at $13.43. 180,792 shares were traded during mid-day trading, a decline of 62% from the average session volume of 478,632 shares. The stock had previously closed at $12.45.

Analyst Ratings Changes

Several brokerages have commented on ADEA. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th.

Adeia Stock Up 8.4 %

The firm’s fifty day moving average price is $12.12 and its 200-day moving average price is $11.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. The firm has a market capitalization of $1.47 billion, a P/E ratio of 34.58 and a beta of 1.42.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Wednesday, November 27th. Adeia’s payout ratio is 55.56%.

Institutional Trading of Adeia

A number of large investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC boosted its holdings in Adeia by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after buying an additional 875 shares in the last quarter. Gallacher Capital Management LLC boosted its stake in Adeia by 5.2% in the 2nd quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock worth $266,000 after purchasing an additional 1,186 shares during the period. Louisiana State Employees Retirement System boosted its stake in Adeia by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after purchasing an additional 1,500 shares during the period. Rhumbline Advisers boosted its stake in Adeia by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after purchasing an additional 1,904 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Adeia by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after purchasing an additional 3,793 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.