Nuveen Asset Management LLC Purchases 72,813 Shares of Adeia Inc. (NASDAQ:ADEA)

Nuveen Asset Management LLC grew its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 845,508 shares of the company's stock after buying an additional 72,813 shares during the period. Nuveen Asset Management LLC owned 0.77% of Adeia worth $11,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Adeia in the fourth quarter valued at about $33,000. Picton Mahoney Asset Management grew its stake 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. KBC Group NV grew its stake in Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after purchasing an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in Adeia during the fourth quarter worth approximately $142,000. Finally, Cibc World Markets Corp acquired a new stake in Adeia during the fourth quarter worth approximately $142,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th. BWS Financial reissued a "buy" rating and issued a $18.00 price objective on shares of Adeia in a research note on Tuesday, May 6th. Finally, Maxim Group raised their price objective on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th.

Adeia Stock Down 0.2%

Shares of NASDAQ:ADEA traded down $0.03 during mid-day trading on Friday, hitting $12.81. 618,179 shares of the company traded hands, compared to its average volume of 541,104. The stock has a market cap of $1.39 billion, a P/E ratio of 22.47 and a beta of 1.57. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The stock has a 50-day moving average price of $12.68 and a two-hundred day moving average price of $13.28.

Adeia Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.56%. Adeia's payout ratio is 30.30%.

About Adeia

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.