JPMorgan Chase & Co. lifted its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 875,044 shares of the company's stock after buying an additional 46,249 shares during the period. JPMorgan Chase & Co. owned approximately 0.80% of Adeia worth $12,233,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its holdings in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after acquiring an additional 972 shares during the last quarter. Swiss National Bank raised its stake in shares of Adeia by 1.1% during the 4th quarter. Swiss National Bank now owns 214,246 shares of the company's stock valued at $2,995,000 after buying an additional 2,300 shares during the last quarter. KBC Group NV boosted its stake in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after buying an additional 2,977 shares during the last quarter. Handelsbanken Fonder AB raised its position in Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock valued at $319,000 after acquiring an additional 3,900 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new stake in Adeia in the 4th quarter worth approximately $142,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.
Adeia Trading Up 2.1 %
NASDAQ ADEA traded up $0.25 on Tuesday, reaching $12.10. 732,534 shares of the company were exchanged, compared to its average volume of 533,774. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The stock has a market capitalization of $1.31 billion, a P/E ratio of 21.23 and a beta of 1.47. The business's fifty day moving average price is $13.81 and its 200 day moving average price is $13.15. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.
Adeia (NASDAQ:ADEA - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period in the previous year, the business posted $0.27 EPS. Analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current year.
Adeia Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. Adeia's payout ratio is currently 35.09%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ADEA. Rosenblatt Securities reissued a "buy" rating and set a $20.00 price target on shares of Adeia in a report on Friday, February 28th. Maxim Group lifted their price target on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, BWS Financial reissued a "buy" rating and set a $18.00 target price on shares of Adeia in a report on Tuesday.
Check Out Our Latest Report on Adeia
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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