Maxim Group Issues Positive Forecast for Adeia (NASDAQ:ADEA) Stock Price

Adeia (NASDAQ:ADEA) had its target price increased by Maxim Group from $15.00 to $17.00 in a report published on Wednesday morning,Benzinga reports. Maxim Group currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on ADEA. Rosenblatt Securities restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Tuesday. BWS Financial raised their price objective on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday.

Adeia Stock Performance

Shares of ADEA stock opened at $17.23 on Wednesday. The business’s 50-day moving average price is $13.58 and its 200-day moving average price is $12.63. Adeia has a 12 month low of $9.68 and a 12 month high of $17.46. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 30.23 and a beta of 1.37. The company has a current ratio of 3.53, a quick ratio of 3.42 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same period last year, the firm posted $0.27 earnings per share. Equities research analysts forecast that Adeia will post 1.09 EPS for the current year.

Adeia Dividend Announcement

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

Institutional Investors Weigh In On Adeia

A number of hedge funds have recently added to or reduced their stakes in ADEA. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Adeia during the fourth quarter valued at approximately $33,000. Picton Mahoney Asset Management increased its holdings in shares of Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares in the last quarter. KBC Group NV increased its holdings in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in shares of Adeia during the fourth quarter valued at approximately $142,000. Finally, Cibc World Markets Corp bought a new stake in shares of Adeia during the fourth quarter valued at approximately $142,000. 97.36% of the stock is currently owned by 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.