BlackRock Inc. bought a new position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,408,648 shares of the company's stock, valued at approximately $573,267,000. BlackRock Inc. owned about 15.78% of Adeia as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its stake in Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company's stock worth $25,000 after purchasing an additional 1,180 shares in the last quarter. IFP Advisors Inc purchased a new position in shares of Adeia during the third quarter valued at about $28,000. Quarry LP grew its position in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company's stock valued at $27,000 after purchasing an additional 1,127 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Adeia in the first quarter worth about $58,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company's stock worth $37,000 after purchasing an additional 2,309 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on ADEA shares. Maxim Group set a $35.00 price target on Adeia in a research note on Wednesday, May 6th. Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. BWS Financial lifted their price objective on Adeia from $30.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Rosenblatt Securities reaffirmed a "buy" rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, August 4th. Finally, Zacks Research upgraded Adeia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Adeia currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.60.
Read Our Latest Analysis on ADEA
Adeia Stock Performance
Adeia stock opened at $26.25 on Monday. The company's 50-day moving average price is $28.70 and its 200-day moving average price is $26.52. Adeia Inc. has a twelve month low of $11.61 and a twelve month high of $34.34. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.89 billion, a PE ratio of 24.31 and a beta of 1.39.
Adeia (NASDAQ:ADEA - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The firm had revenue of $96.12 million for the quarter, compared to analysts' expectations of $96.79 million. On average, equities research analysts forecast that Adeia Inc. will post 1.17 EPS for the current fiscal year.
Adeia Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 24th. Adeia's payout ratio is presently 18.52%.
Adeia Company 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
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