SG Americas Securities LLC Sells 34,675 Shares of Adeia Inc. (NASDAQ:ADEA)

SG Americas Securities LLC trimmed its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 49.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 34,952 shares of the company's stock after selling 34,675 shares during the period. SG Americas Securities LLC's holdings in Adeia were worth $489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Wedge Capital Management L L P NC lifted its holdings in shares of Adeia by 4.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 105,188 shares of the company's stock valued at $1,253,000 after buying an additional 4,283 shares during the period. Sei Investments Co. grew its position in shares of Adeia by 21.1% in the second quarter. Sei Investments Co. now owns 25,961 shares of the company's stock valued at $290,000 after purchasing an additional 4,531 shares during the last quarter. Zacks Investment Management increased its position in Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company's stock worth $207,000 after buying an additional 5,902 shares in the last quarter. Empowered Funds LLC raised its stake in Adeia by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company's stock valued at $1,576,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Adeia during the second quarter valued at approximately $122,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ADEA shares. Rosenblatt Securities increased their target price on Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. BWS Financial reissued a "buy" rating and set a $16.00 target price on shares of Adeia in a report on Monday, January 13th.

Adeia Stock Up 1.1 %

Adeia stock traded up $0.14 during mid-day trading on Wednesday, hitting $12.62. The company's stock had a trading volume of 491,618 shares, compared to its average volume of 461,423. The company has a market cap of $1.38 billion, a PE ratio of 35.06 and a beta of 1.37. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. The firm's 50 day moving average is $13.38 and its 200 day moving average is $12.41.

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.