Skylands Capital LLC lowered its position in Adeia Inc. (NASDAQ:ADEA – Free Report) by 29.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,950 shares of the company’s stock after selling 166,293 shares during the period. Adeia accounts for 1.3% of Skylands Capital LLC’s portfolio, making the stock its 22nd largest holding. Skylands Capital LLC owned about 0.37% of Adeia worth $9,755,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Ritholtz Wealth Management increased its holdings in Adeia by 2.5% during the 1st quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock valued at $360,000 after purchasing an additional 364 shares in the last quarter. ProShare Advisors LLC boosted its stake in Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock worth $365,000 after purchasing an additional 656 shares in the last quarter. Redmond Asset Management LLC grew its holdings in shares of Adeia by 0.4% during the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after purchasing an additional 727 shares during the last quarter. Amundi grew its holdings in shares of Adeia by 4.5% during the fourth quarter. Amundi now owns 19,003 shares of the company’s stock worth $328,000 after purchasing an additional 827 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Adeia by 2.6% in the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after buying an additional 937 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on ADEA. Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Roth Mkm restated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Adeia has a consensus rating of “Moderate Buy” and an average target price of $33.60.
Adeia Price Performance
Adeia stock opened at $30.82 on Friday. The business’s 50-day simple moving average is $29.87 and its 200 day simple moving average is $23.36. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 28.54 and a beta of 1.40. Adeia Inc. has a 12-month low of $11.61 and a 12-month high of $34.34.
Adeia (NASDAQ:ADEA – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The firm had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. As a group, research analysts anticipate that Adeia Inc. will post 1.15 earnings per share for the current year.
Adeia Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. 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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