Intech Investment Management LLC Raises Stake in Adeia Inc. (NASDAQ:ADEA)

Intech Investment Management LLC lifted its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 250.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 450,303 shares of the company's stock after buying an additional 321,970 shares during the period. Intech Investment Management LLC owned approximately 0.41% of Adeia worth $6,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Royce & Associates LP grew its position in Adeia by 22.2% during the third quarter. Royce & Associates LP now owns 277,630 shares of the company's stock valued at $3,307,000 after acquiring an additional 50,512 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Adeia by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company's stock valued at $1,576,000 after buying an additional 6,700 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of 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 buying an additional 38,803 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adeia by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company's stock valued at $11,498,000 after buying an additional 33,845 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Adeia during the third quarter worth about $253,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ADEA shares. 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. Maxim Group boosted their price target on Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, BWS Financial boosted 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.

Adeia Stock Down 1.2 %

Shares of ADEA traded down $0.17 on Friday, hitting $13.64. 2,944,036 shares of the stock traded hands, compared to its average volume of 492,578. The company has a market capitalization of $1.47 billion, a PE ratio of 23.93 and a beta of 1.44. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The business has a 50 day simple moving average of $13.93 and a 200 day simple moving average of $13.06.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million for the quarter, compared to analysts' expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period last year, the firm posted $0.27 earnings per share. As a group, equities analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 10th. Adeia's dividend payout ratio is currently 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.