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

Key Points

• Adeia Inc. has received an average rating of "Buy" from five brokerages, with four analysts recommending a buy and one a strong buy, setting an average price target of $19.50.
• Large institutional investors have increased their stakes in Adeia, with 97.36% of the stock currently owned by institutional investors and hedge funds.
• Adeia recently declared a quarterly dividend of $0.05 per share, translating to an annualized dividend yield of 1.3%.

Shares of Adeia Inc. (NASDAQ:ADEA - Get Free Report) have been given an average rating of "Buy" by the five brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $19.50.

ADEA has been the subject of several recent research reports. Roth Capital initiated coverage on shares of Adeia in a research report on Friday, June 20th. They issued a "buy" rating and a $26.00 price target for the company. Zacks Research upgraded shares of Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, BWS Financial restated a "buy" rating and issued a $18.00 price target on shares of Adeia in a research report on Wednesday, August 6th.

Institutional Investors Weigh In On Adeia

Large investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Adeia during the first quarter worth $29,000. Osaic Holdings Inc. increased its position in shares of Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock worth $37,000 after buying an additional 2,309 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Adeia during the first quarter worth $43,000. Brooklyn Investment Group acquired a new stake in shares of Adeia during the first quarter worth $44,000. Finally, GAMMA Investing LLC increased its position in shares of Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after buying an additional 1,611 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $15.37 on Tuesday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 20.77 and a beta of 1.74. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. The firm has a 50 day simple moving average of $14.38 and a 200 day simple moving average of $13.70. Adeia has a one year low of $10.59 and a one year high of $17.46.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 26th. Adeia's dividend payout ratio is 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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