Bridgeway Capital Management LLC Has $1.58 Million Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Bridgeway Capital Management LLC trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing 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 period. Bridgeway Capital Management LLC owned about 0.10% of Adeia worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ADEA. Castlekeep Investment Advisors LLC purchased a new stake in shares of Adeia during the fourth quarter worth $25,000. Ameriprise Financial Inc. raised 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 worth $204,902,000 after acquiring an additional 874,098 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Adeia by 250.9% during the fourth quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after acquiring an additional 321,970 shares in the last quarter. Norges Bank acquired a new position in Adeia during the fourth quarter worth $3,288,000. Finally, Raymond James Financial Inc. acquired a new position in Adeia during the fourth quarter worth $2,470,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $17.00 target price on shares of Adeia in a research report on Tuesday, May 6th. BWS Financial reissued a "buy" rating and set a $18.00 target price on shares of Adeia in a research report on Tuesday, May 6th. Finally, Maxim Group increased their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th.

Adeia Stock Performance

Shares of NASDAQ:ADEA traded up $0.05 during midday trading on Tuesday, hitting $14.02. The company's stock had a trading volume of 537,447 shares, compared to its average volume of 538,584. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 24.60 and a beta of 1.57. The stock's 50 day simple moving average is $12.91 and its 200 day simple moving average is $13.23. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. 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 released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $114.22 million. During the same period last year, the business earned $0.27 earnings per share. As a group, research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, May 27th. Adeia's dividend payout ratio (DPR) is presently 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.