SVB Wealth LLC Takes Position in Adeia Inc. (NASDAQ:ADEA)

SVB Wealth LLC bought a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 30,231 shares of the company's stock, valued at approximately $423,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Adeia by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company's stock worth $15,715,000 after purchasing an additional 13,619 shares during the period. Handelsbanken Fonder AB increased its position in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock worth $319,000 after purchasing an additional 3,900 shares during the period. Principal Financial Group Inc. increased its position in Adeia by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 532,709 shares of the company's stock worth $7,447,000 after purchasing an additional 17,130 shares during the period. KBC Group NV increased its position in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after purchasing an additional 2,977 shares during the period. Finally, Linden Thomas Advisory Services LLC acquired a new position in Adeia during the 4th quarter worth approximately $142,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Price Performance

Shares of ADEA traded down $0.02 on Friday, reaching $14.94. The stock had a trading volume of 575,397 shares, compared to its average volume of 635,348. The firm has a market capitalization of $1.61 billion, a PE ratio of 26.21 and a beta of 1.44. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average of $13.92 and a 200 day moving average of $12.94. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $17.46.

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Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates 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 in the prior year, the firm posted $0.27 EPS. Sell-side analysts expect that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, March 10th. Adeia's payout ratio is currently 35.09%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BWS Financial boosted their target price on 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 set a $20.00 target price on shares of Adeia in a research report on Friday, February 28th. Finally, Maxim Group upped their price target on Adeia from $15.00 to $17.00 and gave the stock 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.