Bailard Inc. Takes $599,000 Position in Adeia Inc. (NASDAQ:ADEA)

Bailard Inc. purchased a new position in Adeia Inc. (NASDAQ:ADEA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 45,300 shares of the company's stock, valued at approximately $599,000.

Other large investors also recently modified their holdings of the company. Stephens Inc. AR grew its holdings in shares of Adeia by 0.6% during the first quarter. Stephens Inc. AR now owns 597,984 shares of the company's stock worth $7,905,000 after buying an additional 3,712 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Adeia during the first quarter worth about $342,000. Nisa Investment Advisors LLC grew its holdings in shares of Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after buying an additional 1,062 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Adeia by 2.4% during the first quarter. Principal Financial Group Inc. now owns 545,317 shares of the company's stock worth $7,209,000 after buying an additional 12,608 shares in the last quarter. Finally, Meritage Portfolio Management bought a new position in shares of Adeia during the first quarter worth about $616,000. 97.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Roth Capital started coverage on Adeia in a report on Friday, June 20th. They set 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 target on shares of Adeia in a research report on Wednesday, July 9th.

Adeia Stock Down 2.3%

NASDAQ ADEA traded down $0.33 during trading hours on Friday, hitting $13.82. 464,310 shares of the company traded hands, compared to its average volume of 544,908. The business's 50-day moving average is $13.71 and its 200-day moving average is $13.48. Adeia Inc. has a twelve month low of $9.68 and a twelve month 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 stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.94 and a beta of 1.59.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, May 27th. This represents a $0.20 annualized dividend and a yield of 1.45%. Adeia's dividend payout ratio (DPR) is presently 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.