Summit Global Investments Purchases Shares of 49,544 Adeia Inc. (NASDAQ:ADEA)

Summit Global Investments purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 49,544 shares of the company's stock, valued at approximately $693,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company's stock valued at $51,767,000 after purchasing an additional 91,288 shares in the last quarter. Harvey Partners LLC lifted its holdings in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company's stock worth $36,349,000 after purchasing an additional 168,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Adeia by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company's stock valued at $31,163,000 after acquiring an additional 78,135 shares during the last quarter. Boston Partners grew its position in Adeia by 5.3% during the 4th quarter. Boston Partners now owns 2,563,814 shares of the company's stock worth $35,548,000 after purchasing an additional 129,922 shares during the period. Finally, Systematic Financial Management LP raised its position in Adeia by 17.0% during the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company's stock valued at $25,728,000 after acquiring an additional 313,741 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Price Performance

ADEA stock traded down $0.04 on Thursday, reaching $13.97. 621,657 shares of the company's stock were exchanged, compared to its average volume of 496,107. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $17.46. The firm has a market cap of $1.50 billion, a PE ratio of 24.51 and a beta of 1.44. The stock has a fifty day moving average of $14.00 and a 200-day moving average of $13.11.

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Adeia (NASDAQ:ADEA - Get Free Report) last posted 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. The business had revenue of $119.17 million for the quarter, compared to analysts' expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, equities analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, March 10th. Adeia's dividend payout ratio (DPR) is currently 35.09%.

Analyst Ratings Changes

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