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

BWS Financial reaffirmed their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report released on Monday,Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Rosenblatt Securities boosted 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 Stock Down 3.1 %

Adeia stock opened at $12.69 on Monday. Adeia has a 12 month low of $9.68 and a 12 month high of $14.75. The stock has a fifty day simple moving average of $13.10 and a two-hundred day simple moving average of $12.22. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 35.25 and a beta of 1.39.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Institutional Investors Weigh In On Adeia

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after acquiring an additional 91,288 shares during the period. Harvey Partners LLC grew its stake in shares of Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after purchasing an additional 168,000 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Adeia by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after purchasing an additional 159,254 shares during the period. Geode Capital Management LLC increased its position in shares of Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after purchasing an additional 78,135 shares during the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Adeia by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after purchasing an additional 313,741 shares during the period. 97.36% of the stock is currently owned by hedge funds and other 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.