Adeia (NASDAQ:ADEA) Price Target Raised to $17.00

Adeia (NASDAQ:ADEA) had its target price hoisted by Maxim Group from $15.00 to $17.00 in a report issued on Wednesday morning,Benzinga reports. Maxim Group currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. BWS Financial lifted their price target on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Tuesday.

Adeia Price Performance

NASDAQ:ADEA opened at $16.39 on Wednesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 45.53 and a beta of 1.37. Adeia has a 52-week low of $9.68 and a 52-week high of $17.27. The stock has a fifty day moving average of $13.46 and a 200 day moving average of $12.55. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 28.37% and a net margin of 12.01%. During the same quarter last year, the company earned $0.27 earnings per share. On average, research analysts expect that Adeia will post 1 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is 55.56%.

Institutional Investors Weigh In On Adeia

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC raised its position in shares of Adeia by 66.2% in the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after acquiring an additional 79,565 shares during the period. Harvey Partners LLC raised its position in shares of Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares during the last quarter. Barclays PLC raised its position in shares of Adeia by 51.9% during the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after purchasing an additional 78,276 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after purchasing an additional 78,135 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Adeia by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock worth $1,185,000 after purchasing an additional 17,905 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.