Adeia (NASDAQ:ADEA) Sets New 1-Year High - Here's What Happened

Key Points

• New 52-week high: Adeia shares reached $26.41 (last $26.34) on Wednesday—up about 2.4%—with a market cap of $2.89 billion and trading above its 50‑day ($21.24) and 200‑day ($17.71) moving averages.
• The company beat expectations for the quarter, reporting EPS of $0.86 versus $0.73 expected and revenue of $182.6M versus $168.5M, with a 25.05% net margin and 38.01% return on equity.
• Analysts are mostly bullish—five Buy ratings and one Hold—with a MarketBeat consensus price target of $28.80 and recent upgrades (Roth MKM raised its target to $34); Adeia also pays a $0.05 quarterly dividend (~0.8% yield).

Adeia Inc. (NASDAQ:ADEA - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $26.41 and last traded at $26.34, with a volume of 3529 shares changing hands. The stock had previously closed at $25.51.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of recent analyst reports. Roth Mkm increased their price objective on Adeia from $27.00 to $34.00 and gave the company a "buy" rating in a report on Monday, March 16th. Maxim Group increased their price objective on Adeia from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, December 23rd. Weiss Ratings upgraded Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, January 12th. Wall Street Zen upgraded Adeia from a "hold" rating to a "strong-buy" rating in a report on Saturday, March 7th. Finally, Zacks Research downgraded Adeia from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.80.

Adeia Stock Up 2.4%

The business has a 50 day moving average of $21.24 and a 200-day moving average of $17.71. The stock has a market cap of $2.89 billion, a PE ratio of 26.72 and a beta of 1.30. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.13. The firm had revenue of $182.64 million for the quarter, compared to the consensus estimate of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. Equities research analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, March 16th. Adeia's dividend payout ratio (DPR) is currently 20.41%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ADEA. Wellington Management Group LLP grew its stake in shares of Adeia by 64.5% in the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company's stock valued at $34,474,000 after purchasing an additional 783,869 shares during the last quarter. Systematic Financial Management LP grew its stake in shares of Adeia by 27.9% in the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company's stock valued at $49,872,000 after purchasing an additional 630,039 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Adeia by 386.1% in the 4th quarter. Deutsche Bank AG now owns 732,859 shares of the company's stock valued at $12,642,000 after purchasing an additional 582,106 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Adeia by 19.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company's stock valued at $39,109,000 after purchasing an additional 448,274 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Adeia by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company's stock valued at $10,644,000 after purchasing an additional 395,462 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

About Adeia

Adeia Inc NASDAQ: ADEA is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.

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