Adeia Inc. (NASDAQ:ADEA) Stock Position Lifted by Royce & Associates LP

Royce & Associates LP lifted its holdings in Adeia Inc. (NASDAQ:ADEA) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 315,264 shares of the company’s stock after purchasing an additional 37,634 shares during the quarter. Royce & Associates LP owned 0.29% of Adeia worth $4,407,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ADEA. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Adeia in the third quarter worth $8,412,000. Systematic Financial Management LP grew its stake in shares of Adeia by 17.0% in the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after purchasing an additional 313,741 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Adeia in the fourth quarter worth $2,470,000. Harvey Partners LLC grew its stake in shares of Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in Adeia by 320.5% during the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after buying an additional 97,815 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

ADEA has been the subject of several research reports. BWS Financial raised their target price on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Maxim Group raised their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Adeia in a research note on Friday, February 28th.

Adeia Trading Up 2.0 %

Shares of NASDAQ ADEA opened at $13.87 on Thursday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 24.33 and a beta of 1.44. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $13.91 and a 200-day simple moving average of $13.04.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. During the same period in the prior year, the business posted $0.27 earnings per share. Sell-side analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio is 35.09%.

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.