Royce & Associates LP Has $3.54 Million Holdings in Adeia Inc. (NASDAQ:ADEA)

Key Points

• Royce & Associates LP reduced its holdings in Adeia Inc. by 15.2%, now owning approximately 267,484 shares valued at $3.5 million.
• Adeia recently declared a $0.05 quarterly dividend, resulting in an annualized yield of 1.51% and a payout ratio of 30.30%.
• Multiple analysts have issued buy ratings for Adeia, with price objectives ranging from $17.00 to $26.00 per share.

Royce & Associates LP cut its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 15.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,484 shares of the company's stock after selling 47,780 shares during the quarter. Royce & Associates LP owned about 0.25% of Adeia worth $3,536,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management bought a new stake in shares of Adeia in the first quarter valued at about $175,000. GAMMA Investing LLC boosted its stake in shares of Adeia by 80.9% in the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company's stock valued at $48,000 after buying an additional 1,611 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Adeia by 9.6% in the first quarter. New York State Teachers Retirement System now owns 148,732 shares of the company's stock valued at $1,966,000 after buying an additional 13,078 shares during the period. SG Americas Securities LLC lifted its position in shares of Adeia by 60.9% during the 1st quarter. SG Americas Securities LLC now owns 56,254 shares of the company's stock valued at $744,000 after acquiring an additional 21,302 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position 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 valued at $113,000 after acquiring an additional 1,062 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Trading Up 0.3%

Adeia stock traded up $0.05 during trading hours on Thursday, hitting $13.05. The stock had a trading volume of 102,760 shares, compared to its average volume of 584,705. The business's 50 day simple moving average is $13.68 and its 200-day simple moving average is $13.46. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 19.77 and a beta of 1.59. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.53%. The ex-dividend date was Tuesday, May 27th. Adeia's payout ratio is presently 30.30%.

Wall Street Analyst Weigh In

ADEA has been the subject of several recent analyst reports. Roth Capital initiated 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. Rosenblatt Securities reaffirmed a "buy" rating and set a $17.00 price target on shares of Adeia in a report on Tuesday, May 6th. Finally, BWS Financial restated a "buy" rating and set a $18.00 target price on shares of Adeia in a research note on Wednesday, July 9th.

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.