Adeia Inc. (NASDAQ:ADEA) Declares Quarterly Dividend of $0.05

Adeia Inc. (NASDAQ:ADEA) announced a quarterly dividend on Wednesday, October 23rd,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.05 per share on Wednesday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.66%. The ex-dividend date is Wednesday, November 27th.

Adeia has decreased its dividend payment by an average of 26.3% per year over the last three years. Adeia has a payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Adeia to earn $0.97 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 20.6%.

Adeia Stock Down 0.4 %

Shares of NASDAQ:ADEA opened at $12.05 on Monday. 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 has a 52-week low of $9.05 and a 52-week high of $14.24. The firm has a market capitalization of $1.32 billion, a P/E ratio of 33.47 and a beta of 1.44. The stock has a 50 day moving average price of $12.13 and a 200-day moving average price of $11.69.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Monday, November 11th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th.

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.