Allspring Global Investments Holdings LLC Has $363,000 Stake in Adeia Inc. (NASDAQ:ADEA)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 60.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,445 shares of the company's stock after selling 46,284 shares during the period. Allspring Global Investments Holdings LLC's holdings in Adeia were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ADEA. Wedge Capital Management L L P NC grew its holdings in Adeia by 0.9% during the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company's stock valued at $1,129,000 after purchasing an additional 875 shares during the period. Gallacher Capital Management LLC grew its holdings in Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company's stock valued at $266,000 after purchasing an additional 1,186 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Adeia by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company's stock valued at $1,024,000 after buying an additional 1,215 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Adeia by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company's stock valued at $687,000 after buying an additional 1,420 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company's stock valued at $236,000 after buying an additional 1,483 shares during the period. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

Shares of ADEA traded up $0.04 during trading hours on Friday, hitting $12.47. The company had a trading volume of 253,493 shares, compared to its average volume of 276,256. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 31.18 and a beta of 1.44. The business has a fifty day moving average of $12.06 and a 200-day moving average of $11.48. Adeia Inc. has a 12 month low of $8.61 and a 12 month high of $13.39. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $87.35 million for the quarter, compared to analyst estimates of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. Equities analysts anticipate that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BWS Financial reiterated a "buy" rating and issued a $16.00 price target on shares of Adeia in a report on Thursday, September 26th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price target on shares of Adeia in a research report on Thursday.

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.