Adeia Inc. $ADEA Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in Adeia Inc. by 0.6%, owning 3,288,035 shares valued at approximately $43.6 million as of the latest reporting period.
• Adeia recently announced a quarterly dividend of $0.05 per share, representing an annualized yield of 1.3% and a payout ratio of 27.03%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Adeia, with price targets ranging from $17.00 to $26.00, indicating expectations for growth.

Neuberger Berman Group LLC trimmed its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,288,035 shares of the company's stock after selling 19,064 shares during the quarter. Neuberger Berman Group LLC owned 3.03% of Adeia worth $43,552,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in Adeia in the fourth quarter valued at $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Adeia during the 4th quarter worth about $33,000. GAMMA Investing LLC boosted its stake in shares of Adeia by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock worth $48,000 after acquiring an additional 1,611 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Adeia by 14.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Vestcor Inc boosted its stake in shares of Adeia by 45.7% during the 1st quarter. Vestcor Inc now owns 11,593 shares of the company's stock worth $153,000 after acquiring an additional 3,638 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several recent analyst reports. BWS Financial reissued a "buy" rating and set a $18.00 target price on shares of Adeia in a research note on Wednesday, August 6th. Zacks Research raised shares of Adeia to a "strong-buy" rating in a research note on Friday, August 8th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th. Roth Capital began coverage on shares of Adeia in a research note on Friday, June 20th. They issued a "buy" rating and a $26.00 price target on the stock. Finally, Wall Street Zen lowered shares of Adeia from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $19.50.

Adeia Price Performance

ADEA stock traded up $0.12 during mid-day trading on Monday, reaching $15.10. The company's stock had a trading volume of 321,084 shares, compared to its average volume of 588,043. The stock has a market cap of $1.65 billion, a PE ratio of 20.41 and a beta of 1.53. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. Adeia Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $17.46. The company's 50 day moving average is $13.89 and its two-hundred day moving average is $13.54.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders 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 presently 27.03%.

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.