Deutsche Bank AG Acquires 48,382 Shares of Adeia Inc. (NASDAQ:ADEA)

Deutsche Bank AG raised its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 208,957 shares of the company's stock after purchasing an additional 48,382 shares during the quarter. Deutsche Bank AG owned 0.19% of Adeia worth $2,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Adeia in the fourth quarter worth approximately $33,000. Picton Mahoney Asset Management grew its holdings in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock valued at $39,000 after acquiring an additional 972 shares in the last quarter. KBC Group NV grew its holdings in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock valued at $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of Adeia in the fourth quarter valued at approximately $142,000. Finally, Cibc World Markets Corp bought a new position in shares of Adeia in the fourth quarter valued at approximately $142,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Stock Performance

Adeia stock traded down $0.35 during trading on Friday, hitting $12.65. The stock had a trading volume of 463,584 shares, compared to its average volume of 540,859. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 22.19 and a beta of 1.57. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The stock's 50 day moving average is $12.78 and its two-hundred day moving average is $13.26. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $17.46.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. Adeia's payout ratio is 30.30%.

Analyst Upgrades and Downgrades

ADEA has been the subject of several research analyst reports. Maxim Group raised their target price on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th. Finally, BWS Financial reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday, May 6th.

Adeia 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.