Adeia Inc. (NASDAQ:ADEA) Shares Sold by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC decreased its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,874 shares of the company's stock after selling 19,442 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.10% of Adeia worth $1,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new stake in Adeia in the fourth quarter worth $25,000. Balyasny Asset Management L.P. purchased a new position in shares of Adeia in the 4th quarter worth about $474,000. BNP Paribas Financial Markets bought a new position in Adeia in the 4th quarter worth about $234,000. Ameriprise Financial Inc. grew its position in Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after purchasing an additional 874,098 shares during the last quarter. Finally, AXA S.A. increased its stake in Adeia by 11.4% during the 4th quarter. AXA S.A. now owns 184,353 shares of the company's stock valued at $2,577,000 after purchasing an additional 18,819 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADEA. BWS Financial reiterated a "buy" rating and set a $18.00 target price on shares of Adeia in a research note on Tuesday, May 6th. Maxim Group increased their price objective on 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 reiterated a "buy" rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th.

Adeia Stock Performance

Shares of ADEA stock traded down $0.06 on Thursday, reaching $13.79. The stock had a trading volume of 114,795 shares, compared to its average volume of 537,019. 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 Inc. has a 1 year low of $9.68 and a 1 year high of $17.46. The stock has a market cap of $1.50 billion, a P/E ratio of 24.17 and a beta of 1.57. The company has a 50 day simple moving average of $12.87 and a 200 day simple moving average of $13.23.

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

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. Adeia's dividend payout ratio is currently 30.30%.

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.