Rosenblatt Securities Reiterates “Buy” Rating for Adeia (NASDAQ:ADEA)

Rosenblatt Securities reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $18.00 price target 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 Monday, January 13th.

Adeia Stock Up 4.5 %

Shares of Adeia stock opened at $17.12 on Tuesday. The company has a 50-day simple moving average of $13.52 and a two-hundred day simple moving average of $12.58. Adeia has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a market capitalization of $1.87 billion, a PE ratio of 30.04 and a beta of 1.37.

Adeia (NASDAQ:ADEA) last released 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 business had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 33.58% and a net margin of 17.19%. During the same period in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that Adeia will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.17%. Adeia’s dividend payout ratio is presently 35.09%.

Hedge Funds Weigh In On Adeia

Hedge funds and other institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management lifted its stake in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after purchasing an additional 972 shares during the period. Envestnet Asset Management Inc. increased its holdings in Adeia by 5.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock valued at $272,000 after buying an additional 989 shares during the last quarter. MetLife Investment Management LLC raised its position in Adeia by 2.9% in the fourth quarter. MetLife Investment Management LLC now owns 64,990 shares of the company’s stock worth $909,000 after acquiring an additional 1,804 shares during the period. Bank of Montreal Can boosted its stake in shares of Adeia by 16.7% during the 4th quarter. Bank of Montreal Can now owns 14,003 shares of the company’s stock worth $196,000 after acquiring an additional 2,001 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Adeia by 1.1% during the 4th quarter. Swiss National Bank now owns 214,246 shares of the company’s stock worth $2,995,000 after acquiring an additional 2,300 shares during the last quarter. 97.36% of the stock is owned by 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.