Invesco Ltd. Has $12.71 Million Holdings in Adeia Inc. $ADEA

Key Points

• Invesco Ltd. increased its stake in Adeia Inc. by 122.2% during the 1st quarter, now owning approximately 0.89% of Adeia, valued at $12.71 million.
• Adeia's shares are currently rated as a Buy by a majority of analysts, with price targets ranging between $17.00 and $26.00, and an average target of $19.50.
• The company announced a quarterly dividend of $0.05, resulting in an annualized yield of 1.3%, with the next payout scheduled for September 16th.

Invesco Ltd. boosted its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 122.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 961,356 shares of the company's stock after buying an additional 528,617 shares during the quarter. Invesco Ltd. owned approximately 0.89% of Adeia worth $12,709,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ADEA. Ameriprise Financial Inc. boosted its stake in shares of Adeia by 6.3% in the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after purchasing an additional 874,098 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Adeia by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock worth $39,894,000 after purchasing an additional 60,941 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Adeia by 5.4% during the 4th quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company's stock valued at $31,822,000 after purchasing an additional 116,087 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Adeia by 6.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,169,614 shares of the company's stock valued at $30,331,000 after buying an additional 132,395 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in Adeia during the fourth quarter worth about $25,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Trading Down 2.8%

NASDAQ:ADEA traded down $0.44 during mid-day trading on Friday, hitting $15.04. The company had a trading volume of 679,960 shares, compared to its average volume of 566,233. 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 Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.46. The firm has a market cap of $1.64 billion, a P/E ratio of 20.32 and a beta of 1.53. The business's fifty day moving average is $14.23 and its two-hundred day moving average is $13.69.

Adeia Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.