State of Wyoming acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,060 shares of the company’s stock, valued at approximately $1,550,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hantz Financial Services Inc. grew its holdings in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after buying an additional 1,180 shares during the last quarter. Quarry LP raised its holdings in shares of Adeia by 245.5% in the third 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 purchased a new stake in shares of Adeia in the third quarter valued at $28,000. Osaic Holdings Inc. boosted its stake in shares of Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Adeia by 148.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after acquiring an additional 1,781 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Zacks Research raised shares of Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Roth Capital reiterated a “buy” rating and set a $43.00 price target on shares of Adeia in a report on Tuesday, May 5th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Adeia in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.
Adeia Price Performance
Shares of NASDAQ:ADEA opened at $29.83 on Friday. The company has a market cap of $3.29 billion, a P/E ratio of 27.62 and a beta of 1.39. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The business has a fifty day simple moving average of $29.08 and a 200-day simple moving average of $26.14.
Adeia (NASDAQ:ADEA – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Equities research analysts forecast that Adeia Inc. will post 1.17 EPS for the current year.
Adeia Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be issued a $0.05 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s payout ratio is 18.52%.
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.
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