Cubist Systematic Strategies LLC Acquires New Shares in Adeia Inc. $ADEA

Key Points

• Cubist Systematic Strategies LLC acquired 22,779 shares of Adeia Inc., valued at approximately $301,000, in the first quarter, highlighting increasing interest from institutional investors.
• Adeia Inc. has received mixed ratings from analysts, with Wall Street Zen decreasing its rating to "hold," while BWS Financial maintains a "buy" rating with a price target of $18.00.
• The company recently declared a quarterly dividend of $0.05, translating to a 1.3% dividend yield, signaling positive cash flow management and shareholder returns.

Cubist Systematic Strategies LLC bought a new position in Adeia Inc. (NASDAQ:ADEA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,779 shares of the company's stock, valued at approximately $301,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Adeia in the 1st quarter worth approximately $44,000. Ritholtz Wealth Management purchased a new position in shares of Adeia in the first quarter valued at $175,000. GAMMA Investing LLC boosted its stake in shares of Adeia by 80.9% in the first 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 period. New York State Teachers Retirement System boosted its stake in shares of Adeia by 9.6% in the first 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 period. Finally, SG Americas Securities LLC boosted its stake in shares of Adeia by 60.9% in the first 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 period. Hedge funds and other institutional investors own 97.36% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADEA. Zacks Research raised shares of Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen downgraded Adeia from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Roth Capital initiated coverage on Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price target for the company. Finally, BWS Financial reissued a "buy" rating and issued a $18.00 price target on shares of Adeia in a report on Wednesday, August 6th. One equities research 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 an average target price of $19.50.

Adeia Stock Performance

NASDAQ:ADEA traded up $0.13 during trading hours on Wednesday, reaching $15.70. 488,400 shares of the stock were exchanged, compared to its average volume of 461,993. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The firm has a 50 day simple moving average of $14.51 and a 200-day simple moving average of $13.70. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $17.46. The stock has a market capitalization of $1.72 billion, a P/E ratio of 21.22 and a beta of 1.74.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 26th. This represents a $0.20 annualized dividend and a yield of 1.3%. Adeia's dividend payout ratio (DPR) is 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.