Y Intercept Hong Kong Ltd Invests $424,000 in Adeia Inc. $ADEA

Y Intercept Hong Kong Ltd bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 29,956 shares of the company’s stock, valued at approximately $424,000.

A number of other hedge funds have also recently bought and sold shares of ADEA. Ashton Thomas Private Wealth LLC bought a new position in shares of Adeia during the 2nd quarter valued at about $204,000. Envestnet Asset Management Inc. lifted its stake in Adeia by 97.6% during the second quarter. Envestnet Asset Management Inc. now owns 38,015 shares of the company’s stock valued at $538,000 after purchasing an additional 18,776 shares during the last quarter. Stephens Inc. AR boosted its holdings in Adeia by 3.8% during the second quarter. Stephens Inc. AR now owns 620,938 shares of the company’s stock worth $8,780,000 after buying an additional 22,954 shares in the last quarter. Ritholtz Wealth Management grew its position in Adeia by 38.0% in the second quarter. Ritholtz Wealth Management now owns 18,234 shares of the company’s stock worth $258,000 after buying an additional 5,025 shares during the last quarter. Finally, Meritage Portfolio Management grew its position in Adeia by 160.5% in the second quarter. Meritage Portfolio Management now owns 121,408 shares of the company’s stock worth $1,717,000 after buying an additional 74,805 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Price Performance

Shares of ADEA opened at $13.89 on Friday. The business’s 50-day moving average is $16.19 and its 200-day moving average is $14.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 18.77 and a beta of 1.78. Adeia Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $18.25.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The company had revenue of $87.34 million for the quarter, compared to analysts’ expectations of $99.24 million. Adeia had a net margin of 22.15% and a return on equity of 30.31%. Adeia has set its FY 2025 guidance at EPS. Equities research analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 24th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 24th. Adeia’s payout ratio is currently 30.77%.

Analysts Set New Price Targets

ADEA has been the subject of a number of recent research reports. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. BWS Financial restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a report on Tuesday. Roth Capital reiterated a “buy” rating on shares of Adeia in a report on Monday. Rosenblatt Securities reissued a “buy” rating and issued a $17.00 target price on shares of Adeia in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.50.

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.