Adeia Inc. (NASDAQ:ADEA) to Issue $0.05 Quarterly Dividend

Key Points

• Adeia Inc. (NASDAQ: ADEA) has announced a quarterly dividend of $0.05 per share, with shareholders of record set to receive payment on September 16th.
• The company has a dividend payout ratio of 13.7%, indicating that its dividend is well-supported by earnings.
• Adeia stock traded at $13.76 recently and has an analyst consensus of "buy" from multiple firms, with target prices ranging from $17.00 to $26.00.

Adeia Inc. (NASDAQ:ADEA - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Investors of record on Tuesday, August 26th will be paid a dividend of 0.05 per share on Tuesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 26th.

Adeia has a dividend payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings.

Adeia Trading Up 3.3%

NASDAQ ADEA traded up $0.45 during mid-day trading on Friday, reaching $14.23. 541,485 shares of the stock were exchanged, compared to its average volume of 543,030. Adeia has a one year low of $10.59 and a one year high of $17.46. The stock has a 50 day simple moving average of $13.72 and a 200-day simple moving average of $13.48. The stock has a market cap of $1.54 billion, a P/E ratio of 19.23 and a beta of 1.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. grew its holdings in shares of Adeia by 6.3% during the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after buying an additional 874,098 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Adeia by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after buying an additional 60,941 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Adeia by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock valued at $36,734,000 after buying an additional 10,883 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Adeia by 6.8% during the first quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company's stock valued at $30,638,000 after buying an additional 147,971 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Adeia by 5.4% during the fourth quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company's stock valued at $31,822,000 after buying an additional 116,087 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.