Prudential Financial Inc. Lowers Holdings in Adeia Inc. (NASDAQ:ADEA)

Prudential Financial Inc. lessened its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 609,914 shares of the company's stock after selling 39,300 shares during the period. Prudential Financial Inc. owned approximately 0.56% of Adeia worth $8,527,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Picton Mahoney Asset Management increased 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 worth $39,000 after buying an additional 972 shares during the last quarter. Swiss National Bank grew its position in Adeia by 1.1% in the fourth quarter. Swiss National Bank now owns 214,246 shares of the company's stock worth $2,995,000 after acquiring an additional 2,300 shares in the last quarter. KBC Group NV increased its stake in Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after acquiring 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 purchasing an additional 3,900 shares during the period. Finally, Zacks Investment Management raised its position in Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company's stock valued at $207,000 after purchasing an additional 5,902 shares during the period. Hedge funds and other institutional investors own 97.36% of the company's stock.

Remove Ads

Adeia Trading Down 9.5 %

Shares of NASDAQ ADEA traded down $1.27 during midday trading on Thursday, hitting $12.16. The company's stock had a trading volume of 700,672 shares, compared to its average volume of 524,416. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm has a market cap of $1.32 billion, a P/E ratio of 21.33 and a beta of 1.44. The business's 50 day moving average is $14.02 and its two-hundred day moving average is $13.17.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $119.17 million during 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 firm earned $0.27 earnings per share. As a group, equities research analysts expect that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, March 10th. Adeia's dividend payout ratio (DPR) is presently 35.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADEA shares. Rosenblatt Securities reissued a "buy" rating and set a $20.00 target price on shares of Adeia in a research report on Friday, February 28th. BWS Financial boosted their price objective on shares of Adeia from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Maxim Group raised their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th.

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.