Hotchkis & Wiley Capital Management LLC Invests $8.41 Million in Adeia Inc. (NASDAQ:ADEA)

Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 706,320 shares of the company's stock, valued at approximately $8,412,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.65% of Adeia as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. lifted its holdings in shares of Adeia by 12.6% in the 2nd quarter. Select Equity Group L.P. now owns 653,425 shares of the company's stock valued at $7,309,000 after buying an additional 73,204 shares during the period. Harvey Partners LLC raised its position in Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company's stock worth $36,349,000 after acquiring an additional 168,000 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Adeia by 243.7% in the third quarter. SG Americas Securities LLC now owns 69,627 shares of the company's stock valued at $829,000 after acquiring an additional 49,367 shares during the period. Mackenzie Financial Corp boosted its position in shares of Adeia by 24.1% during the 2nd quarter. Mackenzie Financial Corp now owns 68,340 shares of the company's stock worth $764,000 after purchasing an additional 13,290 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Adeia by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company's stock worth $1,096,000 after purchasing an additional 3,793 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Price Performance

Shares of Adeia stock traded down $0.42 on Thursday, hitting $13.07. The company's stock had a trading volume of 544,726 shares, compared to its average volume of 481,450. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm has a fifty day moving average price of $12.16 and a 200-day moving average price of $11.75. Adeia Inc. has a 52-week low of $9.46 and a 52-week high of $14.24. The company has a market capitalization of $1.43 billion, a P/E ratio of 37.47 and a beta of 1.42.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. Adeia's dividend payout ratio is currently 55.56%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ADEA shares. Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 price objective on shares of Adeia in a research note on Friday, November 8th. BWS Financial reiterated a "buy" rating and set a $16.00 price target on shares of Adeia in a research report on Wednesday.

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.