Adeia Inc. (NASDAQ:ADEA) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,616,073 shares of the company's stock after purchasing an additional 78,135 shares during the quarter. Geode Capital Management LLC owned 2.40% of Adeia worth $31,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADEA. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Adeia during the third quarter worth approximately $8,412,000. LSV Asset Management grew its holdings in Adeia by 11.6% during the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company's stock worth $42,010,000 after acquiring an additional 390,836 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Adeia by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company's stock worth $25,728,000 after purchasing an additional 313,741 shares during the last quarter. Harvey Partners LLC raised its stake 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 valued at $36,349,000 after purchasing an additional 168,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company's stock valued at $30,737,000 after purchasing an additional 159,254 shares in the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Performance

ADEA traded up $0.18 on Thursday, hitting $13.92. 349,843 shares of the company's stock were exchanged, compared to its average volume of 493,900. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average of $12.76 and a two-hundred day moving average of $11.97. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $14.75. The firm has a market cap of $1.52 billion, a PE ratio of 38.67 and a beta of 1.42.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.44%. Adeia's payout ratio is currently 55.56%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Rosenblatt Securities boosted their price objective on Adeia from $15.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, December 12th. BWS Financial reiterated a "buy" rating and issued a $16.00 target price on shares of Adeia in a research report on Wednesday, December 4th.

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.