BWS Financial Forecasts Strong Price Appreciation for Adeia (NASDAQ:ADEA) Stock

Adeia (NASDAQ:ADEA - Free Report) had its price objective boosted by BWS Financial from $16.00 to $18.00 in a research note released on Wednesday,Benzinga reports. BWS Financial currently has a buy rating on the stock.

Separately, Rosenblatt Securities reaffirmed a "buy" rating and issued a $18.00 target price on shares of Adeia in a research report on Tuesday.

Adeia Trading Up 0.6 %

Adeia stock traded up $0.11 during mid-day trading on Wednesday, reaching $17.23. 1,422,899 shares of the company traded hands, compared to its average volume of 554,811. 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 1.15, a current ratio of 3.53 and a quick ratio of 3.42. The firm's 50 day moving average price is $13.52 and its 200 day moving average price is $12.58. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 30.23 and a beta of 1.37.

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

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.16%. Adeia's payout ratio is 35.09%.

Hedge Funds Weigh In On Adeia

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC purchased a new position in Adeia in the 4th quarter worth approximately $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Adeia in the 4th quarter worth about $33,000. Picton Mahoney Asset Management raised its holdings in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after buying an additional 972 shares during the period. KBC Group NV increased its stake in Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after buying an additional 2,977 shares during the period. Finally, Linden Thomas Advisory Services LLC purchased a new position in shares of Adeia during the fourth quarter worth approximately $142,000. 97.36% of the stock is currently owned by hedge funds and other 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.