Adeia Inc. (NASDAQ:ADEA – Get Rating)'s stock price was up 0.8% during mid-day trading on Tuesday . The stock traded as high as $10.74 and last traded at $10.72. Approximately 424,865 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 535,818 shares. The stock had previously closed at $10.63.
Analyst Ratings Changes
Several analysts have issued reports on ADEA shares. BWS Financial downgraded shares of Adeia from a "top pick" rating to a "buy" rating and set a $16.00 price objective for the company. in a research report on Thursday, October 6th. Maxim Group lowered their price objective on shares of Adeia from $25.00 to $14.00 in a research report on Wednesday, October 12th. Finally, Stephens started coverage on shares of Adeia in a research report on Tuesday, October 4th. They issued an "overweight" rating and a $17.00 price objective for the company.
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Adeia Stock Performance
The firm has a market cap of $1.13 billion, a P/E ratio of -2.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.46 and a quick ratio of 2.46. The company's 50 day moving average is $10.25.
Adeia (NASDAQ:ADEA – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.10). The business had revenue of $210.94 million for the quarter, compared to analysts' expectations of $93.82 million. Adeia had a negative net
margin of 41.90% and a positive return on equity of 16.11%. On average, equities analysts forecast that Adeia Inc. will post 1.63 earnings per share for the current fiscal year.
Adeia Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Investors of record on Wednesday, November 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, November 29th. Adeia's dividend payout ratio (DPR) is presently -5.45%.
Adeia Company Profile
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Adeia Inc, together with its subsidiaries, operates as a consumer and entertainment product/solutions licensing company worldwide. It licenses its innovations to companies in the entertainment industry under the Adeia brand. 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, social media, and other new media companies, such as subscription video-on-demand service providers and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, DVRs, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices.
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