Adeia Inc. (NASDAQ:ADEA) Announces Quarterly Dividend of $0.05

Key Points

• Adeia Inc. (NASDAQ: ADEA) has announced a quarterly dividend of $0.05 per share, with shareholders of record set to receive payment on September 16th.
• The company has a dividend payout ratio of 13.7%, indicating that its dividend is well-supported by earnings.
• Adeia stock traded at $13.76 recently and has an analyst consensus of "buy" from multiple firms, with target prices ranging from $17.00 to $26.00.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Shareholders of record on Tuesday, August 26th will be paid a dividend of 0.05 per share on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 26th.

Adeia has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings.

Adeia Stock Performance

Shares of ADEA stock traded up $1.27 during mid-day trading on Wednesday, reaching $13.76. The stock had a trading volume of 1,210,069 shares, compared to its average volume of 589,517. The firm's 50 day simple moving average is $13.66 and its 200 day simple moving average is $13.46. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13. Adeia has a one year low of $10.31 and a one year high of $17.46. The firm has a market cap of $1.49 billion, a PE ratio of 20.85 and a beta of 1.53.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Rosenblatt Securities restated a "buy" rating and set a $17.00 target price on shares of Adeia in a research report on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research report on Wednesday. Finally, Roth Capital initiated coverage on Adeia in a research report on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective for the company.

About Adeia

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.

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