Saxon Interests Inc. Has $191,000 Position in Adeia Inc. (NASDAQ:ADEA)

Saxon Interests Inc. cut its position in shares of Adeia Inc. (NASDAQ:ADEA) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,640 shares of the company’s stock after selling 1,165 shares during the period. Saxon Interests Inc.’s holdings in Adeia were worth $191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ADEA. Franklin Resources Inc. increased its position in Adeia by 21.9% during the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock worth $1,185,000 after buying an additional 17,905 shares during the last quarter. Hohimer Wealth Management LLC acquired a new position in shares of Adeia during the 3rd quarter worth approximately $190,000. Geode Capital Management LLC raised its stake in Adeia by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after acquiring an additional 78,135 shares during the period. Barclays PLC lifted its holdings in Adeia by 51.9% during the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock valued at $2,728,000 after purchasing an additional 78,276 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Adeia by 31.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 63,819 shares of the company’s stock worth $760,000 after buying an additional 15,314 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Trading Up 2.1 %

ADEA opened at $13.03 on Friday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 36.22 and a beta of 1.39. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $14.75. The company’s 50 day moving average price is $13.05 and its two-hundred day moving average price is $12.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BWS Financial restated a “buy” rating and set a $16.00 price objective on shares of Adeia in a research report on Monday. Rosenblatt Securities lifted their price target on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Adeia 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.