Hotchkis & Wiley Capital Management LLC Sells 84,370 Shares of Adeia Inc. $ADEA

Key Points

• Hotchkis & Wiley Capital Management LLC has reduced its stake in Adeia Inc. by 10.2%, now holding approximately 746,450 shares worth $9,868,000 after selling 84,370 shares.
• Adeia recently announced a quarterly dividend of $0.05 per share, with a dividend yield of 1.3% and a payout ratio of 27.03%.
• Analyst ratings for Adeia show a consensus Buy rating with target prices ranging from $17.00 to $26.00, reflecting positive market sentiment.

Hotchkis & Wiley Capital Management LLC reduced its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 746,450 shares of the company's stock after selling 84,370 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.69% of Adeia worth $9,868,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ADEA. Castlekeep Investment Advisors LLC bought a new stake in Adeia in the 4th quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Adeia in the 1st quarter worth approximately $43,000. Brooklyn Investment Group bought a new position in shares of Adeia in the first quarter valued at approximately $44,000. GAMMA Investing LLC increased its position in shares of Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock valued at $48,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock valued at $113,000 after acquiring an additional 1,062 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $15.52 on Monday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 20.97 and a beta of 1.53. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $17.46. The stock's 50-day moving average is $14.01 and its 200 day moving average is $13.61.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be issued a $0.05 dividend. 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 currently 27.03%.

Analyst Ratings Changes

ADEA has been the topic of several research analyst reports. Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 target price on shares of Adeia in a research report on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a research note on Wednesday, August 6th. Zacks Research raised shares of Adeia to a "strong-buy" rating in a report on Friday, August 8th. Finally, Roth Capital initiated coverage on shares of Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. Based on data from MarketBeat, Adeia currently has a consensus rating of "Buy" and a consensus target price of $19.50.

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.

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