Adeia Inc. (NASDAQ:ADEA) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Adeia Inc. has a consensus rating of "Buy" from six analysts, with four recommending buy and one a strong buy, setting an average 1-year price target of $19.50.
• The company recently announced a quarterly dividend of $0.05 per share, demonstrating a dividend yield of 1.2% based on an annualized payout.
• Adeia's stock has performed within a 52-week range, hitting a low of $10.59 and a high of $17.84, with its market capitalization currently at $1.89 billion.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) has received a consensus rating of "Buy" from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.50.

A number of analysts have weighed in on ADEA shares. Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. BWS Financial reiterated a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research note on Wednesday, August 6th. Zacks Research upgraded Adeia to a "strong-buy" rating in a research note on Friday, August 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of Adeia in a research note on Saturday, September 27th. Finally, 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 on the stock.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $17.29 on Friday. Adeia has a fifty-two week low of $10.59 and a fifty-two week high of $17.84. The business has a 50-day moving average of $15.19 and a two-hundred day moving average of $13.91. The stock has a market capitalization of $1.89 billion, a P/E ratio of 23.36 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.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th were paid a $0.05 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. Adeia's payout ratio is presently 27.03%.

Hedge Funds Weigh In On Adeia

Institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of Adeia in the first quarter worth about $29,000. Osaic Holdings Inc. raised its holdings in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock valued at $37,000 after acquiring an additional 2,309 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Adeia in the 1st quarter valued at approximately $43,000. Brooklyn Investment Group acquired a new position in Adeia in the 1st quarter valued at approximately $44,000. Finally, GAMMA Investing LLC raised its holdings in Adeia by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock valued at $48,000 after acquiring an additional 1,611 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

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.

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