CastleKnight Management LP bought a new position in 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 bought 352,100 shares of the company’s stock, valued at approximately $6,074,000. CastleKnight Management LP owned about 0.32% of Adeia at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ADEA. Hantz Financial Services Inc. lifted its holdings in shares of Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares during the last quarter. Quarry LP lifted its holdings in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Adeia in the 3rd quarter worth about $28,000. Osaic Holdings Inc. lifted its holdings in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in shares of Adeia by 189.3% in the 4th quarter. Clearstead Advisors LLC now owns 4,487 shares of the company’s stock worth $77,000 after acquiring an additional 2,936 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.
Adeia Trading Down 1.3%
Shares of ADEA opened at $31.38 on Thursday. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a 50-day moving average of $29.26 and a 200 day moving average of $22.52. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 29.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44.
Adeia Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. Adeia’s dividend payout ratio (DPR) is 18.52%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on ADEA shares. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Maxim Group set a $35.00 price objective on shares of Adeia in a report on Wednesday, May 6th. Finally, Roth Mkm reiterated a “buy” rating and set a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Adeia has an average rating of “Moderate Buy” and a consensus price target of $33.60.
View Our Latest Report on Adeia
About Adeia
Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.
By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.
See Also
- Five stocks we like better than Adeia
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Want to see what other hedge funds are holding ADEA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adeia Inc. (NASDAQ:ADEA – Free Report).
Receive News & Ratings for Adeia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adeia and related companies with MarketBeat.com's FREE daily email newsletter.
