Bank of America Corp DE grew its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740,728 shares of the company's stock after buying an additional 138,034 shares during the period. Bank of America Corp DE owned 0.67% of Adeia worth $17,800,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in ADEA. Hantz Financial Services Inc. raised its position in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company's stock valued at $25,000 after purchasing an additional 1,180 shares during the period. IFP Advisors Inc acquired a new position in Adeia in the third quarter valued at about $28,000. Quarry LP boosted its stake in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company's stock worth $27,000 after buying an additional 1,127 shares during the period. GHP Investment Advisors Inc. purchased a new position in Adeia during the first quarter worth about $58,000. Finally, Osaic Holdings Inc. increased its position in shares of Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock valued at $37,000 after acquiring an additional 2,309 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.
Adeia Stock Down 1.9%
Adeia stock opened at $27.49 on Thursday. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The stock has a market cap of $3.03 billion, a PE ratio of 25.45 and a beta of 1.39. The stock's fifty day moving average is $28.93 and its two-hundred day moving average is $26.40.
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 the consensus estimate of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The company had revenue of $96.12 million for the quarter, compared to analyst estimates of $96.79 million. On average, sell-side analysts expect that Adeia Inc. will post 1.17 EPS for the current fiscal year.
Adeia Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Adeia's dividend payout ratio is presently 18.52%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the company. Rosenblatt Securities reissued a "buy" rating and issued a $40.00 target price on shares of Adeia in a research report on Tuesday, August 4th. Zacks Research raised Adeia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Weiss Ratings lowered Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.60.
Read Our Latest Research Report on Adeia
Adeia Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Adeia, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adeia wasn't on the list.
While Adeia currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
