25,870 Shares in Adeia Inc. (NASDAQ:ADEA) Bought by Alps Advisors Inc.

Alps Advisors Inc. acquired a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,870 shares of the company's stock, valued at approximately $342,000.

A number of other large investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Adeia by 14.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock valued at $113,000 after purchasing an additional 1,062 shares during the period. Principal Financial Group Inc. increased its position in Adeia by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 545,317 shares of the company's stock valued at $7,209,000 after purchasing an additional 12,608 shares during the period. Meritage Portfolio Management acquired a new stake in Adeia during the 1st quarter valued at approximately $616,000. Teacher Retirement System of Texas increased its position in Adeia by 20.9% during the 1st quarter. Teacher Retirement System of Texas now owns 23,487 shares of the company's stock valued at $310,000 after purchasing an additional 4,059 shares during the period. Finally, Kendall Capital Management increased its position in Adeia by 3.1% during the 1st quarter. Kendall Capital Management now owns 34,401 shares of the company's stock valued at $455,000 after purchasing an additional 1,050 shares during the period. Institutional investors own 97.36% of the company's stock.

Adeia Trading Down 2.3%

Shares of ADEA stock traded down $0.33 during trading hours on Friday, hitting $13.82. 464,310 shares of the company were exchanged, compared to its average volume of 544,908. The firm has a market cap of $1.50 billion, a P/E ratio of 20.94 and a beta of 1.59. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.94 and a current ratio of 2.94. The company has a 50 day simple moving average of $13.71 and a two-hundred day simple moving average of $13.48.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, May 27th. Adeia's dividend payout ratio is currently 30.30%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ADEA shares. Roth Capital started coverage on shares of Adeia in a research report on Friday, June 20th. They set a "buy" rating and a $26.00 target price for the company. BWS Financial reaffirmed a "buy" rating and set a $18.00 price objective on shares of Adeia in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th.

Adeia 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.