Adeia Inc. (NASDAQ:ADEA – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $10.91, but opened at $11.23. Adeia shares last traded at $10.80, with a volume of 43 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on ADEA. Stephens started coverage on Adeia in a research note on Tuesday, October 4th. They set an "overweight" rating and a $17.00 price objective for the company. Maxim Group reduced their target price on Adeia from $25.00 to $14.00 in a report on Wednesday, October 12th. Finally, BWS Financial downgraded Adeia from a "top pick" rating to a "buy" rating and set a $16.00 target price on the stock. in a report on Thursday, October 6th.
Get Adeia alerts:Adeia Trading Up 0.1 %
The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.15 billion, a P/E ratio of -2.98 and a beta of 1.12. The firm's 50-day simple moving average is $10.22.
Adeia (NASDAQ:ADEA – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates 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%. Equities research analysts predict that Adeia Inc. will post 1.63 EPS for the current fiscal year.Adeia Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 21st. Stockholders of record on Wednesday, November 30th were paid a $0.05 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.83%. Adeia's payout ratio is presently -5.45%.
About Adeia
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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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