Barclays PLC Increases Position in Adeia Inc. (NASDAQ:ADEA)

Barclays PLC raised its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 51.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 228,967 shares of the company's stock after purchasing an additional 78,276 shares during the period. Barclays PLC owned about 0.21% of Adeia worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company's stock valued at $51,767,000 after purchasing an additional 91,288 shares in the last quarter. LSV Asset Management boosted its position in Adeia by 11.6% during the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company's stock valued at $42,010,000 after acquiring an additional 390,836 shares in the last quarter. Harvey Partners LLC boosted its position in Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company's stock valued at $36,349,000 after acquiring an additional 168,000 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company's stock valued at $30,737,000 after acquiring an additional 159,254 shares during the period. Finally, Systematic Financial Management LP raised its position in shares of Adeia by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company's stock worth $25,728,000 after acquiring an additional 313,741 shares in the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADEA shares. BWS Financial reaffirmed a "buy" rating and set a $16.00 price objective on shares of Adeia in a research report on Wednesday, December 4th. Rosenblatt Securities raised their price target on shares of Adeia from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, December 12th.

Adeia Stock Up 0.4 %

Shares of ADEA stock traded up $0.06 during trading hours on Wednesday, reaching $13.74. 170,726 shares of the company's stock were exchanged, compared to its average volume of 494,481. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $14.75. The stock's 50 day moving average is $12.74 and its 200-day moving average is $11.95. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 38.17 and a beta of 1.42.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.46%. The ex-dividend date was Wednesday, November 27th. Adeia's dividend payout ratio is currently 55.56%.

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.