Adeia (NASDAQ:ADEA) Receives Buy Rating from BWS Financial

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

Separately, Rosenblatt Securities increased their target price on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th.

Adeia Trading Down 3.1 %

Shares of ADEA opened at $12.69 on Monday. The firm has a fifty day simple moving average of $13.10 and a two-hundred day simple moving average of $12.22. Adeia has a twelve month low of $9.68 and a twelve month high of $14.75. The stock has a market capitalization of $1.39 billion, a P/E ratio of 35.25 and a beta of 1.39. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a $0.05 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. Adeia’s payout ratio is 55.56%.

Institutional Investors Weigh In On Adeia

A number of hedge funds and other institutional investors have recently bought and sold shares of ADEA. Rhumbline Advisers boosted its position in shares of Adeia by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after purchasing an additional 1,904 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Adeia by 18.1% in the second quarter. Texas Permanent School Fund Corp now owns 110,734 shares of the company’s stock worth $1,239,000 after acquiring an additional 16,937 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Adeia by 13.3% in the second quarter. American Century Companies Inc. now owns 181,469 shares of the company’s stock worth $2,030,000 after acquiring an additional 21,300 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after acquiring an additional 159,254 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Adeia in the 2nd quarter worth about $341,000. Hedge funds and other 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.