BWS Financial Reaffirms Buy Rating for Adeia (NASDAQ:ADEA)

BWS Financial reiterated their buy rating on shares of Adeia (NASDAQ:ADEA) in a report issued on Friday morning, Benzinga reports. BWS Financial currently has a $16.00 target price on the stock.

Separately, Rosenblatt Securities initiated coverage on shares of Adeia in a report on Friday, February 23rd. They issued a buy rating and a $15.00 target price on the stock.

Adeia Stock Performance

Shares of ADEA stock opened at $9.97 on Friday. The stock has a market cap of $1.08 billion, a P/E ratio of 16.90 and a beta of 1.43. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. The company has a fifty day moving average price of $11.04 and a two-hundred day moving average price of $10.67. Adeia has a one year low of $7.12 and a one year high of $13.39.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $86.87 million for the quarter, compared to analyst estimates of $89.23 million. Adeia had a net margin of 17.33% and a return on equity of 42.74%. As a group, equities analysts predict that Adeia will post 1.18 EPS for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.01%. The ex-dividend date was Monday, March 11th. Adeia’s payout ratio is 33.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Adeia by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 13,985,101 shares of the company’s stock valued at $173,275,000 after buying an additional 43,135 shares during the period. Rubric Capital Management LP increased its position in Adeia by 1.0% during the 3rd quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock valued at $49,555,000 after purchasing an additional 47,448 shares during the period. Pacer Advisors Inc. increased its position in Adeia by 35.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock valued at $42,820,000 after purchasing an additional 903,568 shares during the period. The Manufacturers Life Insurance Company increased its position in Adeia by 1.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,467,711 shares of the company’s stock valued at $30,575,000 after purchasing an additional 25,846 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Adeia by 4.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company’s stock valued at $26,079,000 after purchasing an additional 97,792 shares during the period. 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.