LSV Asset Management Reduces Position in Adeia Inc. $ADEA

LSV Asset Management lowered its stake in Adeia Inc. (NASDAQ:ADEA) by 3.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,976,494 shares of the company’s stock after selling 92,700 shares during the period. LSV Asset Management’s holdings in Adeia were worth $42,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC raised its position in Adeia by 1.8% during the 2nd quarter. Intech Investment Management LLC now owns 427,707 shares of the company’s stock worth $6,048,000 after buying an additional 7,581 shares during the last quarter. Creative Planning acquired a new stake in shares of Adeia in the second quarter worth $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Adeia by 6.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,856 shares of the company’s stock worth $394,000 after purchasing an additional 1,708 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Adeia by 9.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,767 shares of the company’s stock valued at $350,000 after purchasing an additional 2,047 shares during the period. Finally, Bailard Inc. boosted its holdings in Adeia by 6.6% in the second quarter. Bailard Inc. now owns 48,300 shares of the company’s stock valued at $683,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ ADEA opened at $12.35 on Wednesday. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 16.69 and a beta of 1.78. The stock has a 50-day moving average of $15.91 and a 200 day moving average of $14.64. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. Adeia Inc. has a twelve month low of $10.59 and a twelve month high of $18.25.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $87.34 million during the quarter, compared to analyst estimates 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. Sell-side analysts anticipate 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. Investors of record on Monday, November 24th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 24th. Adeia’s payout ratio is presently 30.77%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Roth Capital reiterated a “buy” rating on shares of Adeia in a research note on Monday, November 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Adeia in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Adeia in a research report on Thursday, November 13th. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, BWS Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Adeia in a research note on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

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.