Raymond James Financial Inc. Buys New Position in Adeia Inc. (NASDAQ:ADEA)

Raymond James Financial Inc. bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 176,665 shares of the company's stock, valued at approximately $2,470,000. Raymond James Financial Inc. owned about 0.16% of Adeia at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADEA. KBC Group NV boosted its stake in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock valued at $97,000 after acquiring an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new position in Adeia in the fourth quarter worth about $142,000. Hohimer Wealth Management LLC bought a new stake in Adeia in the third quarter valued at about $190,000. Zacks Investment Management raised its position in shares of Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company's stock valued at $207,000 after acquiring an additional 5,902 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adeia during the third quarter worth $253,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Analyst Ratings Changes

ADEA has been the subject of a number of recent research reports. 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. Maxim Group increased 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 price objective on Adeia from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th.

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Adeia Stock Performance

Adeia stock traded up $0.01 during midday trading on Wednesday, reaching $13.43. 419,842 shares of the stock traded hands, compared to its average volume of 523,221. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week 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 $1.46 billion, a price-to-earnings ratio of 23.56 and a beta of 1.44. The firm has a fifty day moving average price of $14.04 and a two-hundred day moving average price of $13.18.

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

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, March 10th. Adeia's dividend payout ratio (DPR) is 35.09%.

About Adeia

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.