CastleKnight Management LP boosted its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 311,000 shares of the company's stock after acquiring an additional 50,100 shares during the period. CastleKnight Management LP owned 0.28% of Adeia worth $4,348,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ADEA. Castlekeep Investment Advisors LLC purchased a new position in Adeia in the 4th quarter worth $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Adeia during the fourth quarter worth about $33,000. Picton Mahoney Asset Management boosted its stake in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after purchasing an additional 972 shares during the period. KBC Group NV grew its stake 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 during the last quarter. Finally, Linden Thomas Advisory Services LLC bought a new stake in shares of Adeia during the 4th quarter worth $142,000. 97.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on ADEA shares. Maxim Group boosted their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. BWS Financial restated a "buy" rating and set a $18.00 price objective on shares of Adeia in a research note on Tuesday, April 15th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th.
Check Out Our Latest Stock Report on ADEA
Adeia Price Performance
Adeia stock opened at $12.35 on Tuesday. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $17.46. The firm has a market capitalization of $1.34 billion, a P/E ratio of 21.67 and a beta of 1.57. The business has a 50-day moving average of $13.10 and a 200-day moving average of $13.18. 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 (NASDAQ:ADEA - Get Free Report) last issued 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. 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 quarter last year, the company posted $0.27 EPS. On average, equities analysts anticipate that Adeia Inc. will post 1.09 EPS for the current year.
Adeia Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, March 10th. Adeia's dividend payout ratio (DPR) is 35.09%.
About Adeia
(
Free Report)
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.
Further Reading
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