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

BWS Financial restated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note issued to investors on Friday, Benzinga reports. BWS Financial currently has a $16.00 target price on the stock.

Separately, Rosenblatt Securities initiated coverage on Adeia in a research report on Friday, February 23rd. They set a buy rating and a $15.00 target price on the stock.

Adeia Trading Up 2.2 %

Shares of NASDAQ:ADEA opened at $9.94 on Friday. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. Adeia has a 12-month low of $7.12 and a 12-month high of $13.39. The business has a 50 day moving average of $11.10 and a two-hundred day moving average of $10.66. The company has a market capitalization of $1.08 billion, a PE ratio of 16.85 and a beta of 1.43.

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

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 dividend on an annualized basis and a yield of 2.01%. Adeia’s dividend payout ratio is currently 33.90%.

Hedge Funds Weigh In On Adeia

Large investors have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC increased its stake in shares of Adeia by 267.3% during the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after purchasing an additional 1,518 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Adeia by 635.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $25,000 after buying an additional 2,028 shares during the last quarter. FMR LLC purchased a new stake in Adeia during the 1st quarter worth approximately $26,000. Carmel Capital Partners LLC acquired a new position in shares of Adeia during the third quarter valued at approximately $33,000. Finally, Selway Asset Management purchased a new position in shares of Adeia in the third quarter valued at approximately $36,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Company Profile

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.