1,048,277 Shares in Adeia Inc. $ADEA Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 1,048,277 Adeia shares worth approximately $34.5 million, representing 0.95% of the company. Institutional investors collectively own 97.36% of Adeia.
• Adeia reported quarterly EPS of $0.34, beating estimates by $0.03, while revenue of $96.12 million fell slightly short of expectations. The stock was trading at $26.25, down 2.6%.
• Analysts remain broadly positive, with five Buy ratings and one Hold rating and a consensus price target of $37.60. Adeia also declared a quarterly dividend of $0.05 per share, implying a 0.8% yield.

Deutsche Bank AG acquired a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,048,277 shares of the company's stock, valued at approximately $34,520,000. Deutsche Bank AG owned 0.95% of Adeia as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company's stock valued at $25,000 after buying an additional 1,180 shares during the period. Quarry LP raised its position in Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company's stock valued at $27,000 after purchasing an additional 1,127 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Adeia in the 3rd quarter worth $28,000. Osaic Holdings Inc. lifted its holdings in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock worth $37,000 after buying an additional 2,309 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in shares of Adeia by 148.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company's stock worth $51,000 after buying an additional 1,781 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Trading Down 2.6%

NASDAQ ADEA opened at $26.25 on Friday. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a 50 day moving average price of $28.70 and a 200 day moving average price of $26.46. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.89 billion, a PE ratio of 24.31 and a beta of 1.39.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. As a group, sell-side analysts forecast that Adeia Inc. will post 1.17 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 24th. Adeia's dividend payout ratio (DPR) is 18.52%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. BWS Financial lifted their price objective on Adeia from $30.00 to $50.00 and gave the company a "buy" rating in a report on Friday, August 14th. Zacks Research upgraded shares of Adeia from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Rosenblatt Securities reissued a "buy" rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Adeia has an average rating of "Moderate Buy" and a consensus target price of $37.60.

Adeia Profile

Adeia Inc NASDAQ: ADEA is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source