GAMMA Investing LLC Increases Stake in Adeia Inc. (NASDAQ:ADEA)

GAMMA Investing LLC increased its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 2,291.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,632 shares of the company's stock after purchasing an additional 45,640 shares during the quarter. GAMMA Investing LLC's holdings in Adeia were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in Adeia by 20.6% in the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock worth $319,000 after purchasing an additional 3,900 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Adeia by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company's stock valued at $13,923,000 after acquiring an additional 30,485 shares during the period. Natixis Advisors LLC purchased a new position in shares of Adeia in the fourth quarter valued at about $302,000. Royce & Associates LP increased its position in shares of Adeia by 13.6% in the fourth quarter. Royce & Associates LP now owns 315,264 shares of the company's stock valued at $4,407,000 after acquiring an additional 37,634 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Adeia by 30.1% in the fourth 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. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Trading Up 5.2%

Shares of ADEA stock traded up $0.68 during mid-day trading on Friday, reaching $13.74. The stock had a trading volume of 1,318,766 shares, compared to its average volume of 536,748. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13. The stock's 50-day moving average price is $12.93 and its two-hundred day moving average price is $13.41. The firm has a market capitalization of $1.49 billion, a PE ratio of 20.82 and a beta of 1.59.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, May 27th. Adeia's dividend payout ratio is currently 30.30%.

Analyst Upgrades and Downgrades

ADEA has been the topic of a number of analyst reports. BWS Financial restated a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday, May 6th. Roth Capital initiated coverage on shares of Adeia in a research report on Friday. They issued a "buy" rating and a $26.00 price objective on the stock. Finally, Rosenblatt Securities restated a "buy" rating and issued a $17.00 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.