KLP Kapitalforvaltning AS Acquires New Holdings in Adeia Inc. (NASDAQ:ADEA)

KLP Kapitalforvaltning AS bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,797 shares of the company's stock, valued at approximately $347,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management grew its stake 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 worth $39,000 after purchasing an additional 972 shares during the last quarter. Swiss National Bank boosted its position in shares of Adeia by 1.1% in the 4th quarter. Swiss National Bank now owns 214,246 shares of the company's stock valued at $2,995,000 after purchasing an additional 2,300 shares during the period. KBC Group NV boosted its holdings 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 period. Handelsbanken Fonder AB grew its position in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock worth $319,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Zacks Investment Management grew its position in Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company's stock worth $207,000 after purchasing an additional 5,902 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Down 5.9 %

ADEA stock traded down $0.74 during mid-day trading on Thursday, hitting $11.81. The stock had a trading volume of 530,938 shares, compared to its average volume of 532,032. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 20.72 and a beta of 1.47. 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 Inc. has a 1-year low of $9.68 and a 1-year high of $17.46. The company has a fifty day moving average of $13.84 and a 200 day moving average of $13.14.

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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, hitting analysts' consensus estimates of $0.42. The firm had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 10th. Adeia's payout ratio is presently 35.09%.

Analyst Ratings Changes

ADEA has been the topic of several recent analyst reports. BWS Financial upped their price target on Adeia from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Maxim Group increased their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th.

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.