Vanguard Group Inc. Purchases 143,297 Shares of Adeia Inc. (NASDAQ:ADEA)

Vanguard Group Inc. boosted its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,423,573 shares of the company's stock after acquiring an additional 143,297 shares during the period. Vanguard Group Inc. owned 13.20% of Adeia worth $201,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its holdings in Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after acquiring an additional 972 shares in the last quarter. KBC Group NV boosted its holdings in Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in Adeia in the fourth quarter worth approximately $142,000. Cibc World Markets Corp bought a new position in Adeia in the fourth quarter worth approximately $142,000. Finally, Hohimer Wealth Management LLC bought a new position in Adeia in the third quarter worth approximately $190,000. Institutional investors own 97.36% of the company's stock.

Adeia Stock Down 4.9 %

Shares of Adeia stock traded down $0.61 on Thursday, hitting $11.94. The company had a trading volume of 44,548 shares, compared to its average volume of 529,841. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.95 and a beta of 1.47. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $17.46. The stock has a 50 day moving average of $13.86 and a 200-day moving average of $13.14. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $119.17 million during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.27 earnings per share. As a group, sell-side analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, March 10th. Adeia's payout ratio is 35.09%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BWS Financial increased their price target on Adeia from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Maxim Group increased their price objective on Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Adeia in a research note on Friday, February 28th.

Adeia 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.