Adeia Inc. (NASDAQ:ADEA) Short Interest Up 11.4% in November

Adeia Inc. (NASDAQ:ADEA - Get Free Report) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, an increase of 11.4% from the October 31st total of 3,080,000 shares. Currently, 3.4% of the shares of the company are short sold. Based on an average trading volume of 433,700 shares, the short-interest ratio is currently 7.9 days.

Institutional Trading of Adeia

A number of institutional investors and hedge funds have recently modified their holdings of ADEA. Price T Rowe Associates Inc. MD grew its position in 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 buying an additional 3,793 shares during the period. Comerica Bank raised its holdings in shares of Adeia by 42.2% in the 1st quarter. Comerica Bank now owns 72,306 shares of the company's stock worth $790,000 after purchasing an additional 21,454 shares during the period. SG Americas Securities LLC purchased a new position in Adeia in the second quarter valued at approximately $227,000. Wedge Capital Management L L P NC grew its holdings 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 valued at $1,129,000 after purchasing an additional 875 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Adeia by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company's stock worth $611,000 after buying an additional 1,500 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Stock Up 3.2 %

Adeia stock traded up $0.39 during midday trading on Monday, reaching $12.51. The stock had a trading volume of 468,219 shares, compared to its average volume of 479,960. The company has a market capitalization of $1.37 billion, a P/E ratio of 33.67 and a beta of 1.44. The company has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $11.72. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia has a 12 month low of $9.40 and a 12 month high of $14.24.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.60%. Adeia's dividend payout ratio (DPR) is 55.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADEA shares. BWS Financial restated a "buy" rating and set a $16.00 target price on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reissued a "buy" rating and issued 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.