Adeia Inc. (ADEA) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on Adeia, with four buy ratings and two holds. The average 12-month price target is $37.60, compared with the reported share price of $23.13.
• Institutional investors and hedge funds own 97.36% of Adeia’s stock, with several firms recently initiating or increasing positions.
• Adeia exceeded quarterly EPS expectations, reporting $0.34 versus the $0.31 consensus estimate, while revenue of $96.12 million slightly missed forecasts. The company also pays a quarterly dividend of $0.05 per share, representing a 0.9% yield.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $37.60.

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of Adeia in a research note on Tuesday, September 29th. Weiss Ratings lowered shares of Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 29th. Zacks Research raised shares of Adeia from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Finally, BWS Financial reaffirmed a "buy" rating and issued a $50.00 target price on shares of Adeia in a report on Wednesday, October 7th.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in Adeia during the second quarter worth approximately $34,000. Rockefeller Capital Management L.P. boosted its holdings in Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company's stock valued at $51,000 after purchasing an additional 1,781 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Adeia by 66.1% in the third quarter. Farther Finance Advisors LLC now owns 2,083 shares of the company's stock valued at $53,000 after purchasing an additional 829 shares in the last quarter. Allworth Financial LP acquired a new position in Adeia in the second quarter valued at approximately $54,000. Finally, GHP Investment Advisors Inc. purchased a new position in Adeia in the first quarter valued at approximately $58,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Trading Down 0.3%

NASDAQ:ADEA opened at $23.13 on Wednesday. The firm has a market cap of $2.55 billion, a PE ratio of 21.42 and a beta of 1.35. The stock has a fifty day moving average price of $26.11 and a 200 day moving average price of $27.73. Adeia has a 12-month low of $11.61 and a 12-month high of $34.34. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76.

Adeia (NASDAQ:ADEA - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%. The firm had revenue of $96.12 million during the quarter, compared to analysts' expectations of $96.79 million. Sell-side analysts anticipate that Adeia will post 1.17 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, August 24th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, August 24th. Adeia's payout ratio is 18.52%.

Adeia Company Profile

Adeia Inc NASDAQ: ADEA is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacturing and integration of advanced electronic components. Its work is focused on enabling higher performance, greater functionality and improved efficiency in increasingly compact semiconductor devices.

The company's technology portfolio includes innovations for three-dimensional semiconductor integration, advanced packaging, hybrid bonding, chiplet interconnects and related manufacturing processes.

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