72,438 Shares in Adeia Inc. $ADEA Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd invested approximately $958,000 in Adeia Inc., acquiring 72,438 shares during the first quarter.
• Adeia's stock received mixed analyst ratings, with one upgrade to a "strong-buy" from Zacks Research and a downgrade to "hold" from Wall Street Zen.
• The company has announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 1.3%.

Dynamic Technology Lab Private Ltd purchased a new position in Adeia Inc. (NASDAQ:ADEA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 72,438 shares of the company's stock, valued at approximately $958,000. Dynamic Technology Lab Private Ltd owned about 0.07% of Adeia at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADEA. Northern Trust Corp lifted its holdings in shares of Adeia by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,227,987 shares of the company's stock worth $17,167,000 after purchasing an additional 89,633 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Adeia in the 4th quarter valued at approximately $234,000. Balyasny Asset Management L.P. acquired a new stake in Adeia in the 4th quarter valued at approximately $474,000. Deutsche Bank AG increased its position in Adeia by 30.1% in the 4th quarter. Deutsche Bank AG now owns 208,957 shares of the company's stock valued at $2,921,000 after acquiring an additional 48,382 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Adeia by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,872 shares of the company's stock valued at $865,000 after acquiring an additional 2,325 shares during the period. Institutional investors own 97.36% of the company's stock.

Adeia Price Performance

Shares of ADEA stock traded down $0.01 during mid-day trading on Friday, hitting $15.65. 529,147 shares of the stock traded hands, compared to its average volume of 454,739. Adeia Inc. has a twelve month low of $10.59 and a twelve month high of $17.46. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 21.15 and a beta of 1.74. The company's 50-day simple moving average is $14.45 and its 200-day simple moving average is $13.69. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 26th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. Adeia's dividend payout ratio (DPR) is 27.03%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. BWS Financial restated a "buy" rating and issued a $18.00 target price on shares of Adeia in a research report on Wednesday, August 6th. Zacks Research upgraded Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Roth Capital assumed coverage on Adeia in a research report on Friday, June 20th. They issued a "buy" rating and a $26.00 target price on the stock. Finally, Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $19.50.

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.