Adeia (NASDAQ:ADEA) Given “Buy” Rating at BWS Financial

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report published on Tuesday, Benzinga reports. BWS Financial currently has a $16.00 target price on the stock.

Separately, Rosenblatt Securities initiated coverage on shares of Adeia in a research note on Friday, February 23rd. They set a buy rating and a $15.00 price objective for the company.

Adeia Price Performance

Shares of Adeia stock opened at $11.03 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. The business has a 50 day simple moving average of $10.64 and a two-hundred day simple moving average of $10.80. The stock has a market capitalization of $1.20 billion, a P/E ratio of 18.70 and a beta of 1.43. Adeia has a 12 month low of $7.18 and a 12 month high of $13.39.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The company had revenue of $86.87 million for the quarter, compared to analyst estimates of $89.23 million. As a group, analysts predict that Adeia will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. Adeia’s dividend payout ratio is presently 33.90%.

Institutional Investors Weigh In On Adeia

Hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its holdings in Adeia by 2.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock valued at $687,000 after purchasing an additional 1,420 shares during the last quarter. Empowered Funds LLC raised its position in shares of Adeia by 8.2% during the 1st quarter. Empowered Funds LLC now owns 444,173 shares of the company’s stock valued at $4,850,000 after buying an additional 33,590 shares during the period. LSV Asset Management lifted its holdings in Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock valued at $36,746,000 after acquiring an additional 1,259,857 shares during the last quarter. Gallacher Capital Management LLC grew its position in Adeia by 21.8% in the first quarter. Gallacher Capital Management LLC now owns 22,617 shares of the company’s stock worth $247,000 after acquiring an additional 4,053 shares during the period. Finally, Texas Permanent School Fund Corp increased its stake in Adeia by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock worth $1,024,000 after acquiring an additional 1,215 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.