Adeia’s (ADEA) “Buy” Rating Reiterated at BWS Financial

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a research note published on Monday,Benzinga reports. The firm currently has a $16.00 target price on the stock.

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of Adeia in a research report on Friday.

Adeia Price Performance

Shares of ADEA opened at $11.96 on Monday. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 33.22 and a beta of 1.44. Adeia has a 52 week low of $9.00 and a 52 week high of $14.24. The stock has a 50 day moving average of $12.11 and a 200-day moving average of $11.60.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.67%. The ex-dividend date is Wednesday, November 27th. Adeia’s payout ratio is currently 55.56%.

Institutional Investors Weigh In On Adeia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Adeia during the 2nd quarter valued at $47,000. EMC Capital Management boosted its holdings in 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 in the last quarter. Algert Global LLC acquired a new position in Adeia in the second quarter worth approximately $122,000. Seizert Capital Partners LLC bought a new position in shares of Adeia in the third quarter valued at $197,000. Finally, Aristides Capital LLC acquired a new stake in shares of Adeia during the 1st quarter valued at $213,000. 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.