Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP lifted its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 17.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,160,201 shares of the company's stock after buying an additional 313,741 shares during the quarter. Systematic Financial Management LP owned approximately 1.98% of Adeia worth $25,728,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC boosted its position in Adeia by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company's stock worth $1,129,000 after purchasing an additional 875 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company's stock valued at $266,000 after acquiring an additional 1,186 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Adeia by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company's stock valued at $611,000 after acquiring an additional 1,500 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Adeia by 0.6% during the second quarter. Rhumbline Advisers now owns 321,762 shares of the company's stock valued at $3,599,000 after acquiring an additional 1,904 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Adeia by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company's stock valued at $1,096,000 after acquiring an additional 3,793 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Price Performance

Shares of Adeia stock traded down $0.42 during mid-day trading on Thursday, reaching $13.07. 543,352 shares of the stock traded hands, compared to its average volume of 481,364. Adeia Inc. has a fifty-two week low of $9.46 and a fifty-two week high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $1.43 billion, a PE ratio of 37.47 and a beta of 1.42. The business has a 50-day moving average of $12.16 and a 200 day moving average of $11.75.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. Adeia's dividend payout ratio is presently 55.56%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADEA. BWS Financial reissued a "buy" rating and set a $16.00 target price on shares of Adeia in a report on Wednesday. Rosenblatt Securities reissued a "buy" rating and set a $15.00 target price 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.