Adeia's (ADEA) "Buy" Rating Reiterated at BWS Financial

BWS Financial reissued their buy rating on shares of Adeia (NASDAQ:ADEA - Free Report) in a research report report published on Monday,Benzinga reports. BWS Financial currently has a $16.00 price target on the stock.

Separately, Rosenblatt Securities raised their price target on Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th.

Adeia Price Performance

Shares of ADEA stock traded up $0.18 during midday trading on Monday, reaching $12.87. 697,128 shares of the company traded hands, compared to its average volume of 563,991. The firm's 50 day simple moving average is $13.10 and its two-hundred day simple moving average is $12.23. The firm has a market cap of $1.41 billion, a PE ratio of 35.75 and a beta of 1.39. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia has a 1-year low of $9.68 and a 1-year high of $14.75.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Adeia's dividend payout ratio (DPR) is presently 55.56%.

Hedge Funds Weigh In On Adeia

Institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC acquired a new stake in shares of Adeia during the second quarter worth $122,000. Hohimer Wealth Management LLC acquired a new stake in Adeia in the 3rd quarter worth about $190,000. Seizert Capital Partners LLC purchased a new stake in Adeia in the 3rd quarter valued at about $197,000. Zacks Investment Management increased its stake in shares of Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company's stock valued at $207,000 after acquiring an additional 5,902 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Adeia during the 3rd quarter worth about $253,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

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.