Systematic Financial Management LP lowered its holdings in shares of Adeia Inc. (NASDAQ:ADEA – Free Report) by 7.1% during the first quarter, HoldingsChannel.com reports. The firm owned 2,686,066 shares of the company’s stock after selling 205,065 shares during the period. Adeia makes up approximately 1.5% of Systematic Financial Management LP’s holdings, making the stock its 7th largest holding. Systematic Financial Management LP’s holdings in Adeia were worth $64,546,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of ADEA. Wellington Management Group LLP grew its stake in Adeia by 64.5% in the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock valued at $34,474,000 after acquiring an additional 783,869 shares during the period. Deutsche Bank AG raised its position in Adeia by 386.1% during the fourth quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after acquiring an additional 582,106 shares during the period. The Manufacturers Life Insurance Company raised its position in Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the period. CastleKnight Management LP purchased a new position in Adeia during the fourth quarter valued at $6,074,000. Finally, Jane Street Group LLC lifted its holdings in Adeia by 1,193.2% during the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after purchasing an additional 321,976 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.
Adeia Price Performance
Shares of ADEA stock opened at $26.91 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market capitalization of $2.97 billion, a PE ratio of 24.92 and a beta of 1.36. The firm’s 50-day moving average is $29.35 and its two-hundred day moving average is $25.23. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34.
Adeia Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio is 18.52%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. BWS Financial reissued a “buy” rating and set a $30.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Roth Capital reiterated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Zacks Research lowered Adeia from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.60.
Check Out Our Latest Stock Report on Adeia
Adeia Company Profile
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.
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