Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stock position in Adeia Inc. by 37.9%, bringing its total to 186,109 shares, valued at approximately $2.46 million.
• Adeia's stock price recently fell by 4.7%, with shares opening at $12.34, amidst varying ratings and target prices from analysts.
• The company's recent dividend announcement reflects a dividend yield of 1.6% and a payout ratio of 30.30%, emphasizing financial health while distributing profits to shareholders.

Mackenzie Financial Corp lifted its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 37.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,109 shares of the company's stock after buying an additional 51,101 shares during the period. Mackenzie Financial Corp owned about 0.17% of Adeia worth $2,460,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ADEA. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Adeia by 1.8% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 172,541 shares of the company's stock valued at $2,281,000 after purchasing an additional 3,015 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Adeia in the 1st quarter worth about $256,000. Carmel Capital Partners LLC raised its position in shares of Adeia by 9.9% in the 1st quarter. Carmel Capital Partners LLC now owns 12,904 shares of the company's stock worth $171,000 after purchasing an additional 1,161 shares during the last quarter. Bailard Inc. bought a new stake in shares of Adeia during the 1st quarter valued at about $599,000. Finally, Stephens Inc. AR grew its stake in shares of Adeia by 0.6% during the 1st quarter. Stephens Inc. AR now owns 597,984 shares of the company's stock valued at $7,905,000 after purchasing an additional 3,712 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ADEA has been the subject of a number of recent research reports. BWS Financial reiterated a "buy" rating and set a $18.00 price objective on shares of Adeia in a research note on Wednesday. Roth Capital began coverage on Adeia in a research note on Friday, June 20th. They set a "buy" rating and a $26.00 price objective for the company. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Adeia in a report on Tuesday, May 6th.

Adeia Stock Up 11.0%

Adeia stock traded up $1.37 during midday trading on Wednesday, reaching $13.86. The company's stock had a trading volume of 663,406 shares, compared to its average volume of 587,692. Adeia Inc. has a 52-week low of $10.31 and a 52-week high of $17.46. The stock has a market capitalization of $1.50 billion, a P/E ratio of 20.88 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.94 and a quick ratio of 2.94. The stock's 50-day simple moving average is $13.66 and its 200-day simple moving average is $13.46.

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.