Boston Partners Decreases Position in Adeia Inc. $ADEA

Key Points

• Boston Partners reduced its stake in Adeia Inc. (NASDAQ: ADEA) by 1.5%, resulting in ownership of approximately 2.33% of the company valued at $32.7 million.
• Adeia recently declared a quarterly dividend of $0.05, representing an annualized yield of 1.3% and a dividend payout ratio of 27.03%.
• Various analysts have given Adeia a consensus rating of "Moderate Buy" with an average target price of $19.50, despite one analyst lowering the rating to "hold."

Boston Partners lessened its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,525,597 shares of the company's stock after selling 38,217 shares during the period. Boston Partners owned 2.33% of Adeia worth $32,708,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in Adeia during the first quarter worth approximately $175,000. GAMMA Investing LLC grew its stake in shares of Adeia by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock valued at $48,000 after purchasing an additional 1,611 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Adeia by 9.6% in the 1st quarter. New York State Teachers Retirement System now owns 148,732 shares of the company's stock valued at $1,966,000 after purchasing an additional 13,078 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Adeia by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 56,254 shares of the company's stock valued at $744,000 after purchasing an additional 21,302 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Adeia by 14.2% in 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 last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ADEA shares. Zacks Research upgraded Adeia to a "strong-buy" rating in a research note on Friday, August 8th. Rosenblatt Securities restated a "buy" rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th. Roth Capital assumed coverage on Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price target on the stock. BWS Financial restated a "buy" rating and issued a $18.00 price target on shares of Adeia in a research note on Wednesday, August 6th. Finally, Wall Street Zen downgraded Adeia from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat, Adeia has a consensus rating of "Buy" and a consensus target price of $19.50.

Adeia Price Performance

ADEA traded down $0.29 during trading on Wednesday, reaching $14.52. 333,368 shares of the stock were exchanged, compared to its average volume of 540,758. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09. Adeia Inc. has a 1 year low of $10.59 and a 1 year high of $17.46. The business's 50 day moving average price is $13.95 and its two-hundred day moving average price is $13.57. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 19.62 and a beta of 1.53.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 26th. Adeia's dividend payout ratio is presently 27.03%.

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.