Axa S.A. Grows Holdings in Adeia Inc. (NASDAQ:ADEA)

AXA S.A. boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 184,353 shares of the company's stock after buying an additional 18,819 shares during the period. AXA S.A. owned 0.17% of Adeia worth $2,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ADEA. Vanguard Group Inc. lifted its position in Adeia by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock valued at $201,642,000 after acquiring an additional 143,297 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Adeia by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after purchasing an additional 60,941 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Adeia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock worth $36,734,000 after purchasing an additional 10,883 shares in the last quarter. Boston Partners grew its stake in Adeia by 5.3% during the 4th quarter. Boston Partners now owns 2,563,814 shares of the company's stock worth $35,548,000 after buying an additional 129,922 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Adeia by 6.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,169,614 shares of the company's stock valued at $30,331,000 after buying an additional 132,395 shares in the last quarter. Institutional investors own 97.36% of the company's stock.

Wall Street Analyst Weigh In

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

Adeia Stock Performance

Shares of Adeia stock traded down $0.16 on Friday, reaching $13.35. 520,313 shares of the stock were exchanged, compared to its average volume of 538,340. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $17.46. The business has a 50 day moving average price of $12.93 and a two-hundred day moving average price of $13.21. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.42 and a beta of 1.57.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The business had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. During the same period in the prior year, the firm earned $0.27 EPS. Analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. 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.