Rosenblatt Securities Reaffirms Buy Rating for Adeia (NASDAQ:ADEA)

Rosenblatt Securities restated their buy rating on shares of Adeia (NASDAQ:ADEAFree Report) in a report released on Thursday, Benzinga reports. The firm currently has a $15.00 price objective on the stock.

Separately, BWS Financial reiterated a buy rating and issued a $16.00 price objective on shares of Adeia in a report on Tuesday, May 7th.

View Our Latest Analysis on ADEA

Adeia Price Performance

ADEA opened at $11.07 on Thursday. The stock has a fifty day simple moving average of $10.98 and a two-hundred day simple moving average of $11.30. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 32.56 and a beta of 1.44. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39.

Adeia (NASDAQ:ADEAGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Adeia had a return on equity of 33.89% and a net margin of 11.06%. The firm had revenue of $83.41 million during the quarter, compared to the consensus estimate of $83.55 million. Research analysts predict that Adeia will post 1.2 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, May 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.81%. Adeia’s dividend payout ratio is currently 58.83%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Boston Partners grew its stake in shares of Adeia by 16.5% during the 1st quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after acquiring an additional 325,342 shares during the period. EMC Capital Management grew its stake in shares of Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after acquiring an additional 2,360 shares during the period. Comerica Bank grew its stake in shares of Adeia by 42.2% during the 1st quarter. Comerica Bank now owns 72,306 shares of the company’s stock valued at $790,000 after acquiring an additional 21,454 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Adeia by 3.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 496,830 shares of the company’s stock worth $5,425,000 after purchasing an additional 14,649 shares in the last quarter. Finally, Aristides Capital LLC purchased a new position in Adeia in the 1st quarter worth approximately $213,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Company Profile

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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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