Adeia Inc. $ADEA Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Adeia Inc. by 19.2%, acquiring an additional 44,439 shares to reach a total of 275,393 shares valued at $3,641,000.
• The average rating for Adeia's stock is currently a "Buy", with a target price of $19.50, despite some recent adjustments including a downgrade from Wall Street Zen.
• Adeia recently announced a $0.05 quarterly dividend per share, reflecting an annual yield of 1.3%, with a payout ratio of 27.03%.

American Century Companies Inc. grew its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 19.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 275,393 shares of the company's stock after purchasing an additional 44,439 shares during the quarter. American Century Companies Inc. owned about 0.25% of Adeia worth $3,641,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its position in shares of Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock worth $204,902,000 after buying an additional 874,098 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Adeia by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after acquiring an additional 60,941 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Adeia by 5.4% during the fourth quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company's stock valued at $31,822,000 after acquiring an additional 116,087 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Adeia in the fourth quarter worth $25,000. Finally, Northern Trust Corp boosted its holdings in shares of Adeia by 7.9% in the fourth quarter. Northern Trust Corp now owns 1,227,987 shares of the company's stock worth $17,167,000 after acquiring an additional 89,633 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ADEA shares. Wall Street Zen downgraded Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research raised Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Roth Capital started coverage on Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective for the company. Finally, BWS Financial reissued a "buy" rating and set a $18.00 price objective on shares of Adeia in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $19.50.

Adeia Stock Down 0.3%

ADEA traded down $0.04 during trading hours on Friday, hitting $15.37. 90,164 shares of the company's stock were exchanged, compared to its average volume of 579,392. Adeia Inc. has a 12-month low of $10.59 and a 12-month high of $17.46. The firm has a 50 day moving average of $14.33 and a 200 day moving average of $13.74. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. The firm has a market cap of $1.68 billion, a P/E ratio of 20.77 and a beta of 1.74.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, August 26th. Adeia's dividend payout ratio (DPR) is 27.03%.

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.