State Street Corp Acquires 91,288 Shares of Adeia Inc. (NASDAQ:ADEA)

State Street Corp lifted its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,346,537 shares of the company's stock after acquiring an additional 91,288 shares during the period. State Street Corp owned approximately 3.99% of Adeia worth $51,767,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ADEA. Innealta Capital LLC acquired a new position in Adeia during the second quarter valued at approximately $47,000. Algert Global LLC acquired a new position in shares of Adeia during the 2nd quarter worth $122,000. Seizert Capital Partners LLC acquired a new position in shares of Adeia during the 3rd quarter worth $197,000. SG Americas Securities LLC bought a new stake in shares of Adeia during the 2nd quarter worth $227,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Adeia in the third quarter valued at about $253,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Price Performance

Shares of NASDAQ ADEA traded down $0.07 during mid-day trading on Friday, hitting $13.66. 2,180,043 shares of the stock traded hands, compared to its average volume of 495,501. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $14.75. The firm has a 50 day simple moving average of $12.63 and a two-hundred day simple moving average of $11.91. 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 company has a market cap of $1.49 billion, a PE ratio of 37.94 and a beta of 1.42.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia's dividend payout ratio (DPR) is currently 55.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ADEA shares. Rosenblatt Securities boosted their target price on Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. BWS Financial reiterated a "buy" rating and set a $16.00 price objective on shares of Adeia in a research report on Wednesday, December 4th.

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.