Castlekeep Investment Advisors LLC Purchases Shares of 126,935 Adeia Inc. (NASDAQ:ADEA)

Castlekeep Investment Advisors LLC acquired a new position in Adeia Inc. (NASDAQ:ADEA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 126,935 shares of the company's stock, valued at approximately $1,775,000. Castlekeep Investment Advisors LLC owned about 0.12% of Adeia as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its position 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 lifted its holdings in Adeia by 250.9% during the 4th quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after purchasing an additional 321,970 shares in the last quarter. Norges Bank purchased a new stake in Adeia during the 4th quarter worth about $3,288,000. Raymond James Financial Inc. bought a new position in Adeia in the 4th quarter worth about $2,470,000. Finally, Vanguard Group Inc. grew its holdings in Adeia by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock valued at $201,642,000 after buying an additional 143,297 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Analysts Set New Price Targets

ADEA has been the topic of a number of recent analyst reports. BWS Financial reissued a "buy" rating and issued a $18.00 price target on shares of Adeia in a report on Tuesday, May 6th. 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, Maxim Group raised their price target on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, February 19th.

Adeia Price Performance

NASDAQ ADEA traded down $0.08 during trading on Thursday, reaching $12.81. The company's stock had a trading volume of 107,742 shares, compared to its average volume of 538,949. The firm has a fifty day moving average of $12.72 and a 200 day moving average of $13.26. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The stock has a market capitalization of $1.39 billion, a PE ratio of 22.47 and a beta of 1.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, May 27th. 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.