Mutual of America Capital Management LLC lessened its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 73.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,932 shares of the company's stock after selling 314,267 shares during the period. Mutual of America Capital Management LLC owned about 0.10% of Adeia worth $1,480,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of ADEA. JPMorgan Chase & Co. increased its stake in shares of Adeia by 5.6% in the 4th quarter. JPMorgan Chase & Co. now owns 875,044 shares of the company's stock valued at $12,233,000 after purchasing an additional 46,249 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Adeia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock valued at $36,734,000 after purchasing an additional 10,883 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Adeia by 39.8% in the 4th quarter. Wells Fargo & Company MN now owns 58,905 shares of the company's stock worth $823,000 after buying an additional 16,762 shares during the last quarter. Envestnet Asset Management Inc. boosted 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 buying an additional 989 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Adeia by 16.7% in the 4th quarter. Bank of Montreal Can now owns 14,003 shares of the company's stock worth $196,000 after buying an additional 2,001 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on ADEA. Wall Street Zen cut Adeia from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research upgraded 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 report on Wednesday, August 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Finally, Roth Capital assumed coverage on Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Adeia currently has an average rating of "Buy" and a consensus target price of $19.50.
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Adeia Price Performance
Shares of Adeia stock traded down $0.04 on Friday, hitting $14.90. 73,690 shares of the company were exchanged, compared to its average volume of 586,273. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 20.11 and a beta of 1.53. The company has a 50-day moving average price of $13.86 and a 200 day moving average price of $13.52. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $17.46. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06.
Adeia Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors 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 dividend on an annualized basis and a yield of 1.3%. Adeia's dividend payout ratio is currently 27.03%.
Adeia Profile
(
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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