Fintel reports that on October 3, 2023, Stephens & Co. maintained coverage of Adeia (NASDAQ:ADEA) with a Overweight recommendation.
Analyst Price Forecast Suggests 78.45% Upside
As of August 31, 2023, the average one-year price target for Adeia is 15.98. The forecasts range from a low of 14.14 to a high of $17.85. The average price target represents an increase of 78.45% from its latest reported closing price of 8.96.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adeia is 422MM, an increase of 7.27%. The projected annual non-GAAP EPS is 1.39.
Adeia Declares $0.05 Dividend
On August 7, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of August 28, 2023 received the payment on September 18, 2023. Previously, the company paid $0.05 per share.
At the current share price of $8.96 / share, the stock's dividend yield is 2.23%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.60%, the lowest has been 0.81%, and the highest has been 7.32%. The standard deviation of yields is 1.67 (n=234).
The current dividend yield is 0.22 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 has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 501 funds or institutions reporting positions in Adeia. This is a decrease of 1 owner(s) or 0.20% in the last quarter. Average portfolio weight of all funds dedicated to ADEA is 0.13%, an increase of 26.13%. Total shares owned by institutions increased in the last three months by 1.60% to 121,272K shares. 
The put/call ratio of ADEA is 0.25, indicating a bullish outlook.
What are Other Shareholders Doing?
Ameriprise Financial holds 13,100K shares representing 12.27% ownership of the company. In it's prior filing, the firm reported owning 12,221K shares, representing an increase of 6.72%. The firm increased its portfolio allocation in ADEA by 27.35% over the last quarter.
SLMCX - Columbia Seligman Communications and Information Fund holds 7,077K shares representing 6.63% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 7,007K shares representing 6.56% ownership of the company. No change in the last quarter.
Rubric Capital Management holds 4,593K shares representing 4.30% ownership of the company. No change in the last quarter.
Neuberger Berman Group holds 3,267K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 3,256K shares, representing an increase of 0.35%. The firm increased its portfolio allocation in ADEA by 135.87% 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.
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This story originally appeared on Fintel.
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