Adeia Inc. (NASDAQ:ADEA) Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. has reduced its stake in Adeia Inc. by 56.3%, now holding 58,265 shares valued at approximately $770,000.
• Institutional investors and hedge funds own 97.36% of Adeia's stock, reflecting significant institutional interest in the company.
• Adeia recently announced a quarterly dividend of $0.05 per share, representing an annual yield of 1.6% based on a payout ratio of 30.30%.

Victory Capital Management Inc. trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 56.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,265 shares of the company's stock after selling 75,128 shares during the quarter. Victory Capital Management Inc. owned 0.05% of Adeia worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Inc. AR raised its holdings in shares of Adeia by 0.6% in the first quarter. Stephens Inc. AR now owns 597,984 shares of the company's stock valued at $7,905,000 after acquiring an additional 3,712 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Adeia in the first quarter valued at about $342,000. Nisa Investment Advisors LLC raised its holdings in shares of Adeia by 14.2% in the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock valued at $113,000 after acquiring an additional 1,062 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Adeia by 2.4% in the first quarter. Principal Financial Group Inc. now owns 545,317 shares of the company's stock valued at $7,209,000 after acquiring an additional 12,608 shares in the last quarter. Finally, Meritage Portfolio Management bought a new stake in shares of Adeia in the first quarter valued at about $616,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Trading Up 10.9%

Shares of NASDAQ ADEA traded up $1.36 during mid-day trading on Wednesday, reaching $13.85. 663,406 shares of the company's stock were exchanged, compared to its average volume of 587,692. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.88 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.94 and a current ratio of 2.94. Adeia Inc. has a 52-week low of $10.31 and a 52-week high of $17.46. The company's 50-day moving average is $13.66 and its 200-day moving average is $13.46.

Analysts Set New Price Targets

ADEA has been the subject of several recent research reports. Roth Capital initiated coverage on Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective for the company. Rosenblatt Securities restated a "buy" rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Finally, BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a research note on Wednesday.

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.