Adeia (NASDAQ:ADEA) Shares Down 2.7%

Adeia Inc. (NASDAQ:ADEA) shares dropped 2.7% during trading on Wednesday . The company traded as low as $11.84 and last traded at $11.84. Approximately 59,757 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 495,340 shares. The stock had previously closed at $12.17.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ADEA. BWS Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Adeia in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Thursday, June 20th.

Adeia Trading Down 3.0 %

The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00 and a quick ratio of 3.00. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 33.91 and a beta of 1.46. The business’s 50-day moving average price is $11.49 and its two-hundred day moving average price is $11.17.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million during the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Research analysts predict that Adeia Inc. will post 1.18 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, August 27th. Adeia’s payout ratio is presently 58.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Adeia during the 2nd quarter worth $47,000. EMC Capital Management increased its position in shares of Adeia by 27.8% during the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after buying an additional 2,360 shares during the period. Algert Global LLC bought a new position in Adeia during the second quarter worth $122,000. Aristides Capital LLC acquired a new position in Adeia in the first quarter valued at $213,000. Finally, SG Americas Securities LLC bought a new stake in Adeia during the second quarter valued at $227,000. 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.