Boston Partners Purchases 129,922 Shares of Adeia Inc. (NASDAQ:ADEA)

Boston Partners lifted its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,563,814 shares of the company's stock after purchasing an additional 129,922 shares during the period. Boston Partners owned approximately 2.35% of Adeia worth $35,548,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ADEA. State Street Corp lifted its position in Adeia by 2.1% during the 3rd 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 during the period. Harvey Partners LLC raised its stake in shares of Adeia by 5.8% during the third 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. Geode Capital Management LLC lifted its holdings in Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company's stock valued at $31,163,000 after buying an additional 78,135 shares during the period. Systematic Financial Management LP grew its holdings in Adeia by 17.0% during 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Adeia by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company's stock valued at $15,715,000 after acquiring an additional 13,619 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADEA shares. BWS Financial raised their target price on Adeia from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Rosenblatt Securities reissued a "buy" rating and set a $20.00 price objective on shares of Adeia in a research note on Friday, February 28th. Finally, Maxim Group upped their target price on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th.

Adeia Trading Up 1.8 %

NASDAQ:ADEA traded up $0.24 on Monday, reaching $13.88. The company's stock had a trading volume of 646,946 shares, compared to its average volume of 493,194. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46. The business's 50-day moving average price is $13.93 and its two-hundred day moving average price is $13.07. The firm has a market cap of $1.49 billion, a PE ratio of 24.35 and a beta of 1.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the previous year, the firm earned $0.27 EPS. Equities research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.44%. Adeia's payout ratio is 35.09%.

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.