Adeia Inc. (NASDAQ:ADEA - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $17.61 and last traded at $17.64, with a volume of 338671 shares traded. The stock had previously closed at $17.09.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. BWS Financial reaffirmed a "buy" rating and set a $18.00 price objective on shares of Adeia in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Adeia from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Roth Capital assumed coverage on shares of Adeia in a report on Friday, June 20th. They set a "buy" rating and a $26.00 price objective for the company. Finally, Zacks Research raised shares of Adeia to a "strong-buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $19.50.
View Our Latest Research Report on Adeia
Adeia Stock Up 1.3%
The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 23.48 and a beta of 1.74. The firm's 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $13.86.
Adeia Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, August 26th. Adeia's dividend payout ratio (DPR) is presently 27.03%.
Institutional Investors Weigh In On Adeia
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Adeia by 0.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company's stock valued at $205,166,000 after acquiring an additional 97,666 shares in the last quarter. Harvey Partners LLC grew its position in shares of Adeia by 0.5% during the 2nd quarter. Harvey Partners LLC now owns 3,189,944 shares of the company's stock worth $45,106,000 after buying an additional 17,444 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company's stock worth $39,109,000 after buying an additional 448,274 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Adeia by 6.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company's stock worth $30,638,000 after buying an additional 147,971 shares during the period. Finally, Systematic Financial Management LP grew its position in shares of Adeia by 1.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,293,737 shares of the company's stock worth $32,433,000 after buying an additional 31,315 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.
Adeia Company Profile
(
Get Free Report)
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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