Adeia Inc. (NASDAQ:ADEA) Given Average Rating 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 earned an average recommendation of "Buy" from the five analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.50.

Several equities analysts have issued reports on the company. BWS Financial reaffirmed a "buy" rating and set a $18.00 price objective on shares of Adeia in a report on Wednesday, August 6th. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Adeia from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Adeia to a "strong-buy" rating in a research note on Friday, August 8th. Finally, Roth Capital initiated coverage on shares of Adeia in a research note on Friday, June 20th. They set a "buy" rating and a $26.00 target price for the company.

Institutional Investors Weigh In On Adeia

A number of hedge funds have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new position in Adeia in the fourth quarter valued at about $25,000. Nuveen LLC purchased a new position in Adeia in the first quarter valued at about $11,622,000. Ameriprise Financial Inc. increased its holdings in Adeia by 6.3% in the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after buying an additional 874,098 shares in the last quarter. Invesco Ltd. increased its holdings in Adeia by 122.2% in the first quarter. Invesco Ltd. now owns 961,356 shares of the company's stock valued at $12,709,000 after buying an additional 528,617 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company's stock valued at $39,109,000 after buying an additional 448,274 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Stock Performance

NASDAQ:ADEA opened at $14.94 on Friday. The firm has a market capitalization of $1.63 billion, a PE ratio of 20.19 and a beta of 1.53. The business's fifty day moving average price is $13.86 and its 200 day moving average price is $13.52. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. Adeia has a 12 month low of $10.59 and a 12 month high of $17.46.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be given a $0.05 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Adeia's dividend payout ratio (DPR) is presently 27.03%.

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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