Adeia Inc. (NASDAQ:ADEA) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Adeia a “Moderate Buy”: Five of six analysts recommend buying the stock, while one rates it a hold. The average 12-month price target is $37.60, above the reported $24.82 share price.
• Adeia beat quarterly earnings expectations, reporting $0.34 in EPS versus the $0.31 consensus estimate, although revenue of $96.12 million was slightly below expectations.
• The company declared a quarterly dividend of $0.05 per share, equivalent to an annualized $0.20 dividend and a 0.8% yield. Institutional investors own approximately 97.36% of Adeia’s stock.

Shares of Adeia Inc. (NASDAQ:ADEA - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $37.60.

Several research firms have recently commented on ADEA. Zacks Research raised Adeia from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Weiss Ratings raised Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. BWS Financial boosted their price objective on Adeia from $30.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Rosenblatt Securities restated a "buy" rating and set a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th.

Adeia Trading Down 0.4%

Adeia stock opened at $24.82 on Friday. Adeia has a 1 year low of $11.61 and a 1 year high of $34.34. The firm's 50-day moving average is $26.74 and its 200-day moving average is $27.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The company has a market cap of $2.74 billion, a P/E ratio of 22.98 and a beta of 1.38.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. On average, equities analysts expect that Adeia will post 1.17 earnings per share for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Monday, August 24th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. Adeia's payout ratio is 18.52%.

Institutional Trading of Adeia

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Adeia in the 2nd quarter worth approximately $573,267,000. The Manufacturers Life Insurance Company bought a new stake in Adeia during the 2nd quarter valued at $46,004,000. Deutsche Bank AG acquired a new position in Adeia during the 2nd quarter worth $34,520,000. Bank of New York Mellon Corp acquired a new position in Adeia during the 2nd quarter worth $34,425,000. Finally, Bank of America Corp DE bought a new position in shares of Adeia in the second quarter worth $23,679,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Company Profile

Adeia Inc NASDAQ: ADEA is a semiconductor and intellectual property licensing company. It develops and licenses technologies that help semiconductor manufacturers and electronics companies design and produce advanced chips and systems.

The company's portfolio includes semiconductor packaging and interconnect technologies, such as hybrid bonding and other solutions intended to improve performance, power efficiency and integration in advanced electronic devices. Its intellectual property is used across applications including data centers, communications, consumer electronics, automotive systems and other connected devices.

Adeia serves customers and technology partners internationally through licensing agreements and related business relationships.

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