Adeia (ADEA) Declares $0.05 Dividend
Adeia said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Previously, the company paid $0.05 per share.
Shares must be purchased before the ex-div date of May 26, 2023 to qualify for the dividend. Shareholders of record as of May 30, 2023 will receive the payment on June 20, 2023.
At the current share price of $8.03 / share, the stock's dividend yield is 2.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.83%, the lowest has been 0.81%, and the highest has been 7.32%. The standard deviation of yields is 1.75 (n=235).
The current dividend yield is 0.19 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.07. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.75%.
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What is the Fund Sentiment?
There are 486 funds or institutions reporting positions in Adeia. This is an increase of 224 owner(s) or 85.50% in the last quarter. Average portfolio weight of all funds dedicated to ADEA is 0.11%, a decrease of 14.94%. Total shares owned by institutions increased in the last three months by 169.10% to 117,543K shares. 
The put/call ratio of ADEA is 0.10, indicating a bullish outlook.
Analyst Price Forecast Suggests 112.76% Upside
As of April 24, 2023, the average one-year price target for Adeia is 17.08. The forecasts range from a low of 14.14 to a high of $21.00. The average price target represents an increase of 112.76% from its latest reported closing price of 8.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adeia is 422MM, an increase of 0.96%. The projected annual non-GAAP EPS is 1.39.
What are Other Shareholders Doing?
Ameriprise Financial holds 12,113K shares representing 11.40% ownership of the company.
SLMCX - Columbia Seligman Communications and Information Fund holds 7,077K shares representing 6.66% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 6,854K shares representing 6.45% ownership of the company.
Rubric Capital Management holds 4,619K shares representing 4.35% ownership of the company.
Neuberger Berman Group holds 3,219K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 2,769K shares, representing an increase of 14.00%. The firm decreased its portfolio allocation in ADEA by 35.22% over the last quarter.
Adeia Background Information
(This description is provided by the company.)
Xperi invents, develops, and delivers technologies that enable extraordinary experiences. Xperi technologies, delivered via its brands (DTS, HD Radio, IMAX Enhanced, Invensas, TiVo), and by its startup, Perceive, make entertainment more entertaining, and smart devices smarter. Xperi technologies are integrated into billions of consumer devices, media platforms, and semiconductors worldwide, driving increased value for partners, customers and consumers.
This story originally appeared on Fintel.