Jane Street Group LLC cut its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 86.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,985 shares of the company's stock after selling 172,827 shares during the quarter. Jane Street Group LLC's holdings in Adeia were worth $377,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of ADEA. Picton Mahoney Asset Management boosted its holdings in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after buying an additional 972 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Adeia by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company's stock worth $272,000 after purchasing an additional 989 shares during the period. MetLife Investment Management LLC boosted its position in Adeia by 2.9% during the fourth quarter. MetLife Investment Management LLC now owns 64,990 shares of the company's stock worth $909,000 after purchasing an additional 1,804 shares in the last quarter. Bank of Montreal Can grew its holdings in Adeia by 16.7% in the fourth quarter. Bank of Montreal Can now owns 14,003 shares of the company's stock valued at $196,000 after purchasing an additional 2,001 shares during the period. Finally, Swiss National Bank grew its holdings in Adeia by 1.1% in the fourth quarter. Swiss National Bank now owns 214,246 shares of the company's stock valued at $2,995,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other institutional investors own 97.36% of the company's stock.
Analyst Upgrades and Downgrades
ADEA has been the topic of a number of recent analyst reports. 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. Maxim Group lifted their target price on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Finally, BWS Financial restated a "buy" rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday, May 6th.
Read Our Latest Analysis on ADEA
Adeia Price Performance
Shares of ADEA traded up $0.03 during trading hours on Wednesday, hitting $13.10. 652,198 shares of the stock were exchanged, compared to its average volume of 541,453. The stock's 50-day moving average price is $12.63 and its two-hundred day moving average price is $13.29. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 22.98 and a beta of 1.57.
Adeia Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. Adeia's payout ratio is presently 30.30%.
About Adeia
(
Free Report)
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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