Adeia (NASDAQ:ADEA) Given Buy Rating at BWS Financial

BWS Financial reissued their buy rating on shares of Adeia (NASDAQ:ADEA) in a report issued on Monday,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

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

Adeia Price Performance

Shares of ADEA stock opened at $12.91 on Monday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 35.86 and a beta of 1.39. Adeia has a 12 month low of $9.68 and a 12 month high of $14.75. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $13.08 and a 200 day moving average price of $12.24.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.55%. Adeia’s payout ratio is 55.56%.

Hedge Funds Weigh In On Adeia

Several institutional investors and hedge funds have recently made changes to their positions in ADEA. Hotchkis & Wiley Capital Management LLC acquired a new position in Adeia in the third quarter valued at about $8,412,000. Systematic Financial Management LP raised its stake in Adeia by 17.0% during the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after buying an additional 313,741 shares during the last quarter. Harvey Partners LLC grew its position 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 worth $36,349,000 after buying an additional 168,000 shares during the period. Dimensional Fund Advisors LP increased its position in Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after buying an additional 159,254 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Adeia by 320.5% in the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after purchasing an additional 97,815 shares during the period. 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.