Adeia Inc. (NASDAQ:ADEA) Shareholders to Get $0.05 Quarterly Dividend

Key Points

• Adeia declared a quarterly dividend of $0.05 per share, payable December 14 to shareholders of record on November 23. The annualized dividend is $0.20 per share, yielding approximately 1.0%.
• The dividend appears well covered, with a current payout ratio of 13.7% and an expected future payout ratio of 15.0%, although payments have declined by an average of 0.2% annually over the past three years.
• Adeia reported quarterly EPS of $0.21, below analysts’ $0.30 estimate, while revenue of $80.19 million also missed expectations. Institutional investors and hedge funds own 97.36% of the company’s shares.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) declared a quarterly dividend on Monday, November 2nd. Stockholders of record on Monday, November 23rd will be given a dividend of $0.05 per share on Monday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 23rd.

Adeia has decreased its dividend payment by an average of 0.2% per year over the last three years. Adeia has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Adeia to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 15.0%.

Adeia Price Performance

Shares of Adeia stock opened at $20.67 on Tuesday. The firm has a market cap of $2.28 billion, a P/E ratio of 19.14 and a beta of 1.35. The firm's 50-day simple moving average is $24.29 and its 200-day simple moving average is $25.47. Adeia has a twelve month low of $11.61 and a twelve month high of $34.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). The business had revenue of $80.19 million for the quarter, compared to the consensus estimate of $98.88 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. As a group, research analysts expect that Adeia will post 1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Adeia

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Adeia during the second quarter worth $573,267,000. Wellington Management Group LLP raised its holdings in shares of Adeia by 4.6% in the second quarter. Wellington Management Group LLP now owns 1,712,143 shares of the company's stock valued at $56,381,000 after buying an additional 75,520 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Adeia in the second quarter valued at about $46,004,000. Deutsche Bank AG acquired a new position in Adeia during the 2nd quarter worth about $34,520,000. Finally, Bank of New York Mellon Corp acquired a new position in Adeia during the 2nd quarter worth about $34,425,000. 97.36% of the stock is owned by institutional investors and hedge funds.

About Adeia

Adeia Inc is a semiconductor intellectual property company that develops and licenses technologies used in the design, manufacture and packaging of advanced electronic devices. Rather than producing semiconductors itself, the company works with chipmakers, foundries and other industry participants to commercialize its intellectual property.

Adeia's portfolio includes technologies for three-dimensional semiconductor integration, hybrid bonding, advanced packaging, memory and chip-to-chip connectivity.

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