Empowered Funds LLC trimmed its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,874 shares of the company's stock after selling 19,442 shares during the quarter. Empowered Funds LLC owned approximately 0.10% of Adeia worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in ADEA. Stephens Inc. AR grew its position in shares of Adeia by 5.3% during the 3rd quarter. Stephens Inc. AR now owns 593,636 shares of the company's stock valued at $7,070,000 after buying an additional 29,889 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Adeia by 169.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company's stock valued at $1,061,000 after purchasing an additional 55,979 shares during the last quarter. Royce & Associates LP raised its position in shares of Adeia by 22.2% during the 3rd quarter. Royce & Associates LP now owns 277,630 shares of the company's stock worth $3,307,000 after purchasing an additional 50,512 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Adeia in the 3rd quarter worth approximately $197,000. Finally, Quest Partners LLC boosted its position in Adeia by 76,084.3% during the 3rd quarter. Quest Partners LLC now owns 38,854 shares of the company's stock valued at $463,000 after purchasing an additional 38,803 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on ADEA shares. Maxim Group increased their target price on Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday. BWS Financial increased their price objective on shares of Adeia from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Rosenblatt Securities reissued a "buy" rating and set a $18.00 target price on shares of Adeia in a research note on Tuesday.
Read Our Latest Stock Analysis on Adeia
Adeia Stock Performance
Adeia stock traded up $2.91 during mid-day trading on Wednesday, hitting $16.38. 2,206,811 shares of the company's stock traded hands, compared to its average volume of 489,606. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia Inc. has a one year low of $9.68 and a one year high of $17.27. The firm has a 50 day moving average price of $13.42 and a 200 day moving average price of $12.50. The company has a market cap of $1.79 billion, a PE ratio of 45.51 and a beta of 1.37.
Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The business had revenue of $119.17 million for the quarter, compared to analysts' expectations of $114.22 million. Adeia had a net margin of 12.01% and a return on equity of 28.37%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities analysts forecast that Adeia Inc. will post 1 EPS for the current year.
Adeia Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, March 10th. Adeia's dividend payout ratio (DPR) is presently 55.56%.
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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