Adeia (NASDAQ:ADEA) Shares Up 5.4% - Time to Buy?

Adeia Inc. (NASDAQ:ADEA - Get Free Report) rose 5.4% during trading on Friday . The stock traded as high as $13.83 and last traded at $13.77. Approximately 265,501 shares traded hands during trading, a decline of 55% from the average daily volume of 592,302 shares. The stock had previously closed at $13.06.

Analysts Set New Price Targets

ADEA has been the topic of several research analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th. Roth Capital began coverage on Adeia in a report on Friday. They set a "buy" rating and a $26.00 target price for the company. Finally, BWS Financial reissued a "buy" rating and set a $18.00 target price on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Trading Down 0.9%

The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average price of $12.93 and a two-hundred day moving average price of $13.41. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 20.62 and a beta of 1.59.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. Adeia's payout ratio is presently 30.30%.

Institutional Investors Weigh In On Adeia

Several institutional investors have recently modified their holdings of ADEA. Castlekeep Investment Advisors LLC acquired a new stake in Adeia during the 4th quarter worth $25,000. Quarry LP acquired a new position in Adeia during the 1st quarter worth approximately $29,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Adeia during the fourth quarter worth $33,000. Picton Mahoney Asset Management increased its holdings in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after purchasing an additional 972 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Adeia during the 1st quarter worth approximately $43,000. 97.36% of the stock is owned by hedge funds and other 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.