Harvey Partners LLC Has $36.35 Million Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Harvey Partners LLC grew its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,052,000 shares of the company's stock after acquiring an additional 168,000 shares during the period. Adeia accounts for 4.1% of Harvey Partners LLC's portfolio, making the stock its 5th largest holding. Harvey Partners LLC owned 2.80% of Adeia worth $36,349,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Adeia in the second quarter worth $47,000. Algert Global LLC purchased a new stake in shares of Adeia in the second quarter worth $122,000. Seizert Capital Partners LLC purchased a new stake in shares of Adeia in the third quarter worth $197,000. SG Americas Securities LLC purchased a new stake in shares of Adeia in the second quarter worth $227,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Adeia in the third quarter worth $253,000. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADEA. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 target price on shares of Adeia in a research note on Friday, November 8th. BWS Financial reaffirmed a "buy" rating and set a $16.00 target price on shares of Adeia in a research note on Monday, November 11th.

Adeia Price Performance

Shares of NASDAQ:ADEA traded down $0.06 on Tuesday, reaching $12.45. The company's stock had a trading volume of 478,082 shares, compared to its average volume of 479,952. Adeia Inc. has a 52-week low of $9.40 and a 52-week high of $14.24. The company has a market cap of $1.36 billion, a P/E ratio of 34.50 and a beta of 1.42. The company has a 50-day simple moving average of $12.11 and a 200 day simple moving average of $11.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.61%. Adeia's payout ratio is currently 55.56%.

About Adeia

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.