SVB Wealth LLC Makes New $423,000 Investment in Adeia Inc. (NASDAQ:ADEA)

SVB Wealth LLC purchased a new position in Adeia Inc. (NASDAQ:ADEA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,231 shares of the company’s stock, valued at approximately $423,000.

Several other hedge funds and other institutional investors have also modified their holdings of ADEA. Robeco Institutional Asset Management B.V. raised its stake in Adeia by 169.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock worth $1,061,000 after acquiring an additional 55,979 shares during the period. Royce & Associates LP grew its holdings in shares of Adeia by 22.2% during the third quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after purchasing an additional 50,512 shares during the last quarter. Empowered Funds LLC raised its position in shares of Adeia by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after purchasing an additional 6,700 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Adeia in the 3rd quarter worth approximately $197,000. Finally, Quest Partners LLC boosted its position in Adeia by 76,084.3% during the 3rd quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock valued at $463,000 after purchasing an additional 38,803 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Up 0.2 %

ADEA opened at $15.06 on Wednesday. The stock’s 50 day moving average price is $13.82 and its 200 day moving average price is $12.87. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a market cap of $1.62 billion, a P/E ratio of 26.42 and a beta of 1.37. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The company had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same period last year, the company earned $0.27 earnings per share. As a group, research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. Adeia’s dividend payout ratio (DPR) is 35.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Maxim Group increased their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Adeia in a research report on Friday, February 28th. Finally, BWS Financial lifted their price objective on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

About Adeia

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.