Deutsche Bank AG purchased a new position in shares of Adeia Inc. (NASDAQ:ADEA – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,048,277 shares of the company’s stock, valued at approximately $34,520,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after acquiring an additional 1,180 shares during the last quarter. Quarry LP lifted its position in shares of Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares in the last quarter. IFP Advisors Inc acquired a new stake in shares of Adeia in the third quarter worth approximately $28,000. Osaic Holdings Inc. boosted its stake in shares of Adeia by 714.9% in the second 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, Rockefeller Capital Management L.P. increased its position 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 worth $51,000 after purchasing an additional 1,781 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on ADEA shares. BWS Financial boosted their price objective on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Adeia in a research note on Tuesday, August 4th. Finally, Maxim Group set a $35.00 target price on Adeia in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Adeia has a consensus rating of “Moderate Buy” and a consensus price target of $37.60.
Adeia Stock Down 2.6%
Shares of NASDAQ ADEA opened at $26.25 on Friday. The business has a 50-day moving average price of $28.70 and a 200 day moving average price of $26.46. The stock has a market cap of $2.89 billion, a PE ratio of 24.31 and a beta of 1.39. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34. 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 (NASDAQ:ADEA – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. Equities research analysts forecast that Adeia Inc. will post 1.17 earnings per share for the current year.
Adeia Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.8%. Adeia’s payout ratio is currently 18.52%.
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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