Ameriprise Financial Inc. Acquires 874,098 Shares of Adeia Inc. (NASDAQ:ADEA)

Ameriprise Financial Inc. lifted its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,656,979 shares of the company's stock after purchasing an additional 874,098 shares during the quarter. Ameriprise Financial Inc. owned 13.41% of Adeia worth $204,902,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company's stock worth $2,728,000 after buying an additional 78,276 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Adeia by 21.9% in the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company's stock valued at $1,185,000 after buying an additional 17,905 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of Adeia in the fourth quarter valued at about $142,000. KBC Group NV lifted its position in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after buying an additional 2,977 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Adeia by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 532,709 shares of the company's stock valued at $7,447,000 after acquiring an additional 17,130 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Trading Up 2.9%

Shares of NASDAQ:ADEA traded up $0.38 during midday trading on Monday, hitting $13.72. The company had a trading volume of 65,574 shares, compared to its average volume of 536,489. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The firm has a fifty day simple moving average of $12.93 and a 200 day simple moving average of $13.21. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 24.01 and a beta of 1.57.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the previous year, the company earned $0.27 EPS. On average, analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, May 27th. Adeia's payout ratio is presently 30.30%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADEA shares. BWS Financial reaffirmed a "buy" rating and set a $18.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Maxim Group upped their target price on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th.

Adeia Company Profile

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.