Nuveen LLC Makes New Investment in Adeia Inc. $ADEA

Key Points

• Nuveen LLC acquired a new stake in Adeia Inc. by purchasing 879,094 shares worth approximately $11.62 million, which accounts for about 0.81% of the company's stock.
• Adeia recently announced a quarterly dividend of $0.05 per share, representing an annualized yield of 1.3%, with the ex-dividend date set for August 26th.
• Analysts have mixed ratings on Adeia, with one firm upgrading it to a strong-buy and others maintaining buy ratings, leading to an average price target of $19.50.

Nuveen LLC acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 879,094 shares of the company's stock, valued at approximately $11,622,000. Nuveen LLC owned 0.81% of Adeia as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ADEA. Castlekeep Investment Advisors LLC acquired a new stake in shares of Adeia during the fourth quarter worth $25,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 1,611 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company's stock worth $113,000 after buying an additional 1,062 shares during the period. Vestcor Inc increased its position in shares of Adeia by 45.7% during the first quarter. Vestcor Inc now owns 11,593 shares of the company's stock worth $153,000 after buying an additional 3,638 shares during the period. Finally, Carmel Capital Partners LLC grew its holdings in Adeia by 9.9% in the first 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 period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADEA. Roth Capital began coverage on shares of Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price target for the company. Rosenblatt Securities reissued a "buy" rating and set a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th. Zacks Research raised shares of Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Adeia currently has an average rating of "Buy" and a consensus target price of $19.50.

Adeia Price Performance

ADEA traded down $0.08 during trading on Thursday, reaching $15.48. 514,395 shares of the company traded hands, compared to its average volume of 563,891. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. Adeia Inc. has a 12-month low of $10.59 and a 12-month high of $17.46. The firm has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $13.68. The company has a market cap of $1.69 billion, a P/E ratio of 20.92 and a beta of 1.53.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.3%. Adeia's payout ratio is currently 27.03%.

Adeia Company 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.