BWS Financial Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its price target lifted by BWS Financial from $16.00 to $18.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 price target on shares of Adeia in a research report on Tuesday.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $17.23 on Wednesday. The firm has a 50 day moving average of $13.58 and a 200 day moving average of $12.63. The company has a current ratio of 3.53, a quick ratio of 3.42 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 30.23 and a beta of 1.37. Adeia has a 12-month low of $9.68 and a 12-month high of $17.46.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period in the prior year, the business posted $0.27 earnings per share. On average, research analysts anticipate that Adeia will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. Adeia’s payout ratio is currently 35.09%.

Hedge Funds Weigh In On Adeia

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC lifted its holdings in shares of Adeia by 66.2% in the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after buying an additional 79,565 shares in the last quarter. Harvey Partners LLC lifted its holdings in shares of Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after buying an additional 168,000 shares in the last quarter. Barclays PLC lifted its holdings in shares of Adeia by 51.9% in the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after buying an additional 78,276 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after buying an additional 78,135 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Adeia by 21.9% in the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock worth $1,185,000 after buying an additional 17,905 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.