Adeia Inc. (NASDAQ:ADEA) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Adeia Inc. (NASDAQ:ADEA) has received an average rating of "Buy" from five analysts, with a twelve-month price target averaging $19.50.
• Recent institutional investments include a significant increase by Ameriprise Financial and new positions taken by Castlekeep Investment Advisors and Nuveen LLC.
• The company announced a quarterly dividend of $0.05, reflecting an annualized yield of 1.3% and a payout ratio of 27.03%.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) has been given an average recommendation of "Buy" by the five brokerages that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $19.50.

ADEA has been the topic of a number of analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th. Roth Capital assumed coverage on Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective for the company. BWS Financial reissued a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research note on Wednesday, August 6th. Wall Street Zen lowered Adeia from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Zacks Research raised Adeia to a "strong-buy" rating in a report on Friday, August 8th.

Adeia Price Performance

Shares of ADEA traded down $0.3310 during midday trading on Friday, hitting $14.4790. The company's stock had a trading volume of 117,623 shares, compared to its average volume of 584,673. Adeia has a one year low of $10.59 and a one year high of $17.46. The company's fifty day simple moving average is $13.94 and its two-hundred day simple moving average is $13.56. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 19.56 and a beta of 1.53.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 26th. Adeia's dividend payout ratio (DPR) is presently 27.03%.

Institutional Investors Weigh In On Adeia

Large investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Adeia in the first quarter worth about $29,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Adeia in the fourth quarter worth about $33,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Adeia in the first quarter worth about $43,000. Brooklyn Investment Group bought a new stake in shares of Adeia in the first quarter worth about $44,000. Finally, GAMMA Investing LLC grew its stake in shares of Adeia by 80.9% in the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after purchasing an additional 1,611 shares during 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.