BWS Financial Reiterates "Buy" Rating for Adeia (NASDAQ:ADEA)

BWS Financial restated their buy rating on shares of Adeia (NASDAQ:ADEA - Free Report) in a report issued on Tuesday, Marketbeat reports. BWS Financial currently has a $18.00 price target on the stock.

A number of other brokerages also recently issued reports on ADEA. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price target on shares of Adeia in a report on Friday, February 28th. Maxim Group increased their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th.

Adeia Stock Down 0.8 %

Shares of ADEA traded down $0.10 during midday trading on Tuesday, reaching $11.88. 500,282 shares of the stock were exchanged, compared to its average volume of 535,283. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia has a 52 week low of $9.68 and a 52 week high of $17.46. The company's 50 day moving average is $13.73 and its two-hundred day moving average is $13.14. The company has a market capitalization of $1.29 billion, a P/E ratio of 20.84 and a beta of 1.47.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The firm had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. During the same period last year, the firm earned $0.27 earnings per share. On average, sell-side analysts anticipate that Adeia will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Adeia's payout ratio is 35.09%.

Hedge Funds Weigh In On Adeia

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in Adeia by 6.3% in the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after purchasing an additional 874,098 shares during the last quarter. Vanguard Group Inc. boosted its stake in Adeia by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock worth $201,642,000 after purchasing an additional 143,297 shares during the period. State Street Corp raised its stake in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company's stock worth $51,767,000 after purchasing an additional 91,288 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Adeia by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after purchasing an additional 60,941 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Adeia by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock worth $36,734,000 after purchasing an additional 10,883 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

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.