Adeia Inc. $ADEA Stock Holdings Lifted by Wellington Management Group LLP

Key Points

• Wellington Management increased its Adeia stake by 4.6% in the second quarter, adding 75,520 shares to own 1.71 million shares valued at $56.4 million. Institutional investors collectively hold 97.36% of the company.
• Adeia reported quarterly EPS of $0.34, exceeding analysts’ $0.31 estimate, while revenue of $96.12 million came slightly below expectations. The company also declared a quarterly dividend of $0.05 per share.
• Analyst sentiment remains favorable, with five Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and a $37.60 price target versus the stock’s recent $25.46 price.

Wellington Management Group LLP increased its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,712,143 shares of the company's stock after acquiring an additional 75,520 shares during the quarter. Wellington Management Group LLP owned 1.55% of Adeia worth $56,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in shares of Adeia during the second quarter valued at $1,550,000. Fifth Third Bancorp boosted its position in Adeia by 13,439.1% during the 1st quarter. Fifth Third Bancorp now owns 56,052 shares of the company's stock worth $1,347,000 after acquiring an additional 55,638 shares during the period. Denali Advisors LLC purchased a new position in Adeia during the 4th quarter valued at about $833,000. BlackRock Inc. acquired a new position in shares of Adeia in the 2nd quarter valued at about $573,267,000. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Adeia by 45.8% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company's stock valued at $10,082,000 after purchasing an additional 183,670 shares during the period. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Stock Performance

Shares of ADEA opened at $25.46 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 23.57 and a beta of 1.38. The company's fifty day moving average is $27.70 and its 200-day moving average is $26.99. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34.

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

Adeia Announces Dividend

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 $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 24th. Adeia's payout ratio is 18.52%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BWS Financial raised their price target on shares of Adeia from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, August 19th. Zacks Research upgraded shares of Adeia from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Wall Street Zen lowered Adeia from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Rosenblatt Securities reissued a "buy" rating and set a $40.00 price objective on shares of Adeia in a research report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

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