Adeia (NASDAQ:ADEA) Given New $18.00 Price Target at Rosenblatt Securities

Adeia (NASDAQ:ADEA) had its price target boosted by Rosenblatt Securities from $15.00 to $18.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Wednesday, December 4th.

Adeia Price Performance

Shares of ADEA opened at $14.38 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The firm has a market cap of $1.57 billion, a PE ratio of 39.94 and a beta of 1.42. The firm’s 50 day moving average price is $12.43 and its 200 day moving average price is $11.84. Adeia has a twelve month low of $9.68 and a twelve month high of $14.50.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Institutional Trading of Adeia

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in Adeia by 2.1% during the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after buying an additional 91,288 shares in the last quarter. LSV Asset Management raised its stake in shares of Adeia by 11.6% in the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after acquiring an additional 390,836 shares during the last quarter. Harvey Partners LLC lifted its position in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Adeia by 6.2% in the second 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Adeia by 3.1% in the third 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 in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.