Hillsdale Investment Management Inc. Boosts Stock Position in Adeia Inc. (NASDAQ:ADEA)

Hillsdale Investment Management Inc. lifted its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 321,433 shares of the company's stock after buying an additional 55,892 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.29% of Adeia worth $4,494,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Jane Street Group LLC grew its stake in Adeia by 66.2% in the 3rd quarter. Jane Street Group LLC now owns 199,812 shares of the company's stock valued at $2,380,000 after buying an additional 79,565 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Adeia by 20.6% in the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock valued at $319,000 after acquiring an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Adeia by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company's stock worth $13,923,000 after purchasing an additional 30,485 shares during the period. Harvey Partners LLC lifted its stake in 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 during the last quarter. Finally, Barclays PLC boosted its position in Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company's stock valued at $2,728,000 after buying an additional 78,276 shares during the period. 97.36% of the stock is currently owned by institutional investors.

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Adeia Stock Down 1.5 %

Adeia stock traded down $0.22 during trading hours on Wednesday, hitting $14.01. The stock had a trading volume of 599,164 shares, compared to its average volume of 495,548. The stock has a market capitalization of $1.51 billion, a P/E ratio of 24.58 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 stock's 50-day moving average price is $13.98 and its 200-day moving average price is $13.10. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $114.22 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities research analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, March 10th. Adeia's dividend payout ratio is 35.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADEA. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 price target on shares of Adeia in a report on Friday, February 28th. BWS Financial boosted their price objective on shares of Adeia from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th.

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.