Meritage Portfolio Management Invests $616,000 in Adeia Inc. (NASDAQ:ADEA)

Meritage Portfolio Management bought a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,603 shares of the company's stock, valued at approximately $616,000.

A number of other institutional investors also recently modified their holdings of the business. Castlekeep Investment Advisors LLC bought a new stake in Adeia during the fourth quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Adeia during the fourth quarter worth about $33,000. Picton Mahoney Asset Management lifted its position 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 purchasing an additional 972 shares during the period. GAMMA Investing LLC lifted its position in Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after purchasing an additional 1,611 shares during the period. Finally, Cibc World Markets Corp bought a new stake in Adeia during the fourth quarter worth about $142,000. Institutional investors own 97.36% of the company's stock.

Adeia Trading Down 1.8%

NASDAQ:ADEA traded down $0.27 on Monday, reaching $14.37. 427,244 shares of the stock traded hands, compared to its average volume of 541,192. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 21.77 and a beta of 1.59. The company's 50 day moving average is $13.42 and its 200-day moving average is $13.44. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Tuesday, May 27th. Adeia's dividend payout ratio (DPR) is 30.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADEA shares. Roth Capital assumed coverage on shares of Adeia in a research report on Friday, June 20th. They set a "buy" rating and a $26.00 price objective for the company. BWS Financial reissued a "buy" rating and issued a $18.00 target price on shares of Adeia in a report on Tuesday, May 6th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $17.00 target price on shares of Adeia in a report on Tuesday, May 6th.

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.