Royce & Associates LP grew its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 315,264 shares of the company's stock after purchasing an additional 37,634 shares during the quarter. Royce & Associates LP owned approximately 0.29% of Adeia worth $4,407,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Jane Street Group LLC grew its position in shares of Adeia by 66.2% in the 3rd quarter. Jane Street Group LLC now owns 199,812 shares of the company's stock worth $2,380,000 after buying an additional 79,565 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Adeia by 20.6% in the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock worth $319,000 after buying an additional 3,900 shares during the last quarter. Harvey Partners LLC grew its position in shares of Adeia by 5.8% in the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company's stock worth $36,349,000 after buying an additional 168,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 30,485 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Adeia by 51.9% in the 3rd quarter. Barclays PLC now owns 228,967 shares of the company's stock worth $2,728,000 after buying an additional 78,276 shares during the last quarter. Institutional investors own 97.36% of the company's stock.
Adeia Stock Performance
NASDAQ:ADEA traded down $0.17 during trading hours on Friday, hitting $13.64. 2,944,036 shares of the company were exchanged, compared to its average volume of 492,578. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 23.93 and a beta of 1.44. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The company's 50 day moving average price is $13.93 and its 200-day moving average price is $13.06.
Adeia (NASDAQ:ADEA - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, research analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current year.
Adeia Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, March 10th. Adeia's payout ratio is 35.09%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on ADEA shares. Maxim Group lifted their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. BWS Financial lifted their price objective on shares of Adeia from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th.
Read Our Latest Analysis on Adeia
About Adeia
(
Free Report)
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.
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