Dimensional Fund Advisors LP Lowers Stake in Adeia Inc. $ADEA

Dimensional Fund Advisors LP lessened its stake in shares of Adeia Inc. (NASDAQ:ADEAFree Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,773,864 shares of the company’s stock after selling 43,090 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.51% of Adeia worth $66,647,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Ameriprise Financial Inc. lifted its position in shares of Adeia by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock valued at $205,166,000 after buying an additional 97,666 shares during the last quarter. Systematic Financial Management LP boosted its stake in Adeia by 27.9% in the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock valued at $49,872,000 after acquiring an additional 630,039 shares in the last quarter. Geode Capital Management LLC grew its holdings in Adeia by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after purchasing an additional 19,601 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after purchasing an additional 448,274 shares during the last quarter. Finally, Boston Partners grew its stake in Adeia by 0.6% during the 3rd quarter. Boston Partners now owns 2,479,151 shares of the company’s stock worth $41,577,000 after buying an additional 14,445 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Price Performance

Adeia stock opened at $26.65 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 24.68 and a beta of 1.36. The company’s fifty day moving average price is $29.13 and its 200 day moving average price is $25.48. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34.

Adeia (NASDAQ:ADEAGet Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. As a group, equities research analysts anticipate that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Adeia’s dividend payout ratio is presently 18.52%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ADEA. Roth Capital restated a “buy” rating and set a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.60.

View Our Latest Stock Report on Adeia

Adeia Profile

(Free Report)

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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Institutional Ownership by Quarter for Adeia (NASDAQ:ADEA)

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