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

Adeia Inc. (NASDAQ:ADEA) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.05 per share on Wednesday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, November 27th.

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

Adeia Price Performance

NASDAQ:ADEA opened at $12.55 on Wednesday. Adeia has a one year low of $9.00 and a one year high of $14.24. The stock has a market cap of $1.37 billion, a P/E ratio of 34.86 and a beta of 1.44. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.00. The company has a fifty day moving average price of $12.12 and a 200 day moving average price of $11.61.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADEA. BWS Financial reissued a “buy” rating and set a $16.00 price objective on shares of Adeia in a report on Monday. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th.

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.