Adeia (NASDAQ:ADEA) Trading Up 5.4% - Should You Buy?

Adeia Inc. (NASDAQ:ADEA - Get Free Report)'s stock price shot up 5.4% on Friday . The stock traded as high as $13.83 and last traded at $13.77. 265,501 shares were traded during mid-day trading, a decline of 55% from the average session volume of 592,302 shares. The stock had previously closed at $13.06.

Analyst Ratings Changes

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

Adeia Stock Up 5.4%

The stock has a fifty day moving average of $12.89 and a two-hundred day moving average of $13.40. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 20.89 and a beta of 1.59.

Adeia Dividend Announcement

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. This represents a $0.20 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, May 27th. Adeia's dividend payout ratio is currently 30.30%.

Institutional Trading of Adeia

A number of institutional investors and hedge funds have recently bought and sold shares of ADEA. Castlekeep Investment Advisors LLC acquired a new stake in shares of Adeia in the fourth quarter worth $25,000. Nuveen LLC purchased a new stake in Adeia during the 1st quarter worth $11,622,000. Ameriprise Financial Inc. increased its holdings in Adeia by 6.3% in the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after purchasing an additional 874,098 shares in the last quarter. Invesco Ltd. raised its position in Adeia by 122.2% in the first quarter. Invesco Ltd. now owns 961,356 shares of the company's stock valued at $12,709,000 after purchasing an additional 528,617 shares during the period. Finally, Jane Street Group LLC raised its position in Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company's stock valued at $4,613,000 after purchasing an additional 321,976 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.

About Adeia

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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