Royce & Associates LP Acquires 50,512 Shares of Adeia Inc. (NASDAQ:ADEA)

Royce & Associates LP lifted its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 22.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,630 shares of the company's stock after purchasing an additional 50,512 shares during the quarter. Royce & Associates LP owned 0.25% of Adeia worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Boston Partners increased its holdings in shares of Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company's stock worth $24,761,000 after buying an additional 325,342 shares in the last quarter. Select Equity Group L.P. increased its holdings in Adeia by 12.6% in the 2nd quarter. Select Equity Group L.P. now owns 653,425 shares of the company's stock worth $7,309,000 after purchasing an additional 73,204 shares in the last quarter. SG Americas Securities LLC raised its position in Adeia by 243.7% in the third quarter. SG Americas Securities LLC now owns 69,627 shares of the company's stock valued at $829,000 after purchasing an additional 49,367 shares during the last quarter. Mackenzie Financial Corp raised its position in Adeia by 24.1% in the second quarter. Mackenzie Financial Corp now owns 68,340 shares of the company's stock valued at $764,000 after purchasing an additional 13,290 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Adeia by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company's stock valued at $1,096,000 after purchasing an additional 3,793 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Trading Up 0.7 %

Shares of NASDAQ ADEA traded up $0.08 during trading on Tuesday, reaching $11.51. The company had a trading volume of 311,503 shares, compared to its average volume of 479,821. Adeia Inc. has a 12 month low of $9.05 and a 12 month high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The stock has a market cap of $1.26 billion, a P/E ratio of 31.97 and a beta of 1.44. The company's fifty day moving average price is $12.11 and its 200-day moving average price is $11.66.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.74%. Adeia's payout ratio is 55.56%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ADEA shares. Rosenblatt Securities reiterated a "buy" rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th. BWS Financial reaffirmed a "buy" rating and set a $16.00 price target on shares of Adeia in a research note on Monday, November 11th.

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.