Adeia's (ADEA) "Buy" Rating Reaffirmed at BWS Financial

BWS Financial reissued their buy rating on shares of Adeia (NASDAQ:ADEA - Free Report) in a research report released on Tuesday, Marketbeat reports. BWS Financial currently has a $18.00 price target on the stock.

A number of other equities research analysts have also commented on ADEA. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Adeia in a research report on Friday, February 28th. Maxim Group increased their target price on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th.

Adeia Trading Down 0.8 %

Shares of ADEA stock traded down $0.10 during mid-day trading on Tuesday, reaching $11.88. 500,282 shares of the stock traded hands, compared to its average volume of 535,492. The stock's fifty day simple moving average is $13.73 and its two-hundred day simple moving average is $13.15. Adeia has a 1-year low of $9.68 and a 1-year high of $17.46. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 20.84 and a beta of 1.47.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period in the previous year, the firm posted $0.27 EPS. On average, research analysts anticipate that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.68%. Adeia's dividend payout ratio is currently 35.09%.

Hedge Funds Weigh In On Adeia

Institutional investors and hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new position in shares of Adeia during the 1st quarter valued at $175,000. SG Americas Securities LLC grew its stake in shares of Adeia by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 56,254 shares of the company's stock valued at $744,000 after buying an additional 21,302 shares during the period. GAMMA Investing LLC increased its position 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 buying an additional 1,611 shares in the last quarter. Summit Global Investments boosted its holdings in Adeia by 1.9% in the first quarter. Summit Global Investments now owns 50,475 shares of the company's stock worth $667,000 after acquiring an additional 931 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Adeia by 1.1% in the 4th quarter. Wellington Management Group LLP now owns 1,107,821 shares of the company's stock valued at $15,487,000 after purchasing an additional 11,704 shares during the period. 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.