Adeia Inc. (NASDAQ:ADEA) Plans $0.05 Quarterly Dividend

Adeia Inc. (NASDAQ:ADEA) announced a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Wednesday, November 27th will be given a dividend of 0.05 per share on Wednesday, December 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, November 27th.

Adeia has decreased its dividend by an average of 26.3% per year over the last three years. Adeia has a payout ratio of 13.4% indicating that its dividend is sufficiently covered by earnings.

Adeia Price Performance

Shares of ADEA stock traded up $0.44 during trading hours on Monday, hitting $11.96. 618,690 shares of the company’s stock were exchanged, compared to its average volume of 478,146. Adeia has a 12-month low of $9.00 and a 12-month high of $14.24. The company has a market capitalization of $1.30 billion, a PE ratio of 33.42 and a beta of 1.44. The business’s 50 day simple moving average is $12.13 and its 200-day simple moving average is $11.58. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADEA shares. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Friday. BWS Financial restated a “buy” rating and issued a $16.00 target price on shares of Adeia in a research note on Monday.

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.