GAMMA Investing LLC Buys 45,640 Shares of Adeia Inc. (NASDAQ:ADEA)

GAMMA Investing LLC lifted its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 2,291.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,632 shares of the company's stock after acquiring an additional 45,640 shares during the quarter. GAMMA Investing LLC's holdings in Adeia were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ADEA. Castlekeep Investment Advisors LLC bought a new stake in Adeia in the fourth quarter worth about $25,000. Ameriprise Financial Inc. increased its stake in shares of Adeia by 6.3% during the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock worth $204,902,000 after purchasing an additional 874,098 shares during the last quarter. Intech Investment Management LLC raised its holdings in shares of Adeia by 250.9% in the 4th quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after purchasing an additional 321,970 shares during the period. Norges Bank purchased a new position in Adeia in the fourth quarter valued at approximately $3,288,000. Finally, Raymond James Financial Inc. purchased a new position in Adeia in the fourth quarter valued at approximately $2,470,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Stock Performance

Shares of NASDAQ ADEA traded up $0.03 during midday trading on Thursday, hitting $13.06. The company's stock had a trading volume of 374,687 shares, compared to its average volume of 542,860. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 19.79 and a beta of 1.59. 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 has a fifty day moving average price of $12.86 and a 200 day moving average price of $13.40. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. Adeia's payout ratio is 30.30%.

Analyst Upgrades and Downgrades

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

About Adeia

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.