Skylands Capital LLC Buys 74,943 Shares of Adeia Inc. $ADEA

Key Points

• Skylands Capital boosted its stake in Adeia by 15.1% in Q4, buying 74,943 shares to hold 572,243 shares (about $9.87M), making Adeia roughly 1.3% of Skylands’ portfolio and its 21st largest holding; institutional investors now own 97.36% of the company.
• Adeia recently beat quarterly expectations with EPS of $0.86 vs. $0.73 and revenue of $182.6M vs. $168.5M; the company has a $3.34B market cap, a P/E of 30.74, pays a $0.05 quarterly dividend (≈0.7% yield), and carries an average analyst rating of Moderate Buy (avg. target $28.80).

Skylands Capital LLC boosted its stake in Adeia Inc. (NASDAQ:ADEA - Free Report) by 15.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 572,243 shares of the company's stock after purchasing an additional 74,943 shares during the quarter. Adeia comprises about 1.3% of Skylands Capital LLC's investment portfolio, making the stock its 21st largest holding. Skylands Capital LLC owned about 0.52% of Adeia worth $9,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its holdings in Adeia by 29.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company's stock valued at $4,441,000 after purchasing an additional 57,878 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Adeia by 15.4% in the third quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company's stock valued at $8,665,000 after purchasing an additional 68,745 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Adeia in the third quarter valued at about $3,259,000. JPMorgan Chase & Co. increased its holdings in Adeia by 39.4% in the third quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company's stock valued at $17,632,000 after purchasing an additional 296,742 shares during the last quarter. Finally, NewEdge Wealth LLC bought a new stake in Adeia in the third quarter valued at about $902,000. Institutional investors own 97.36% of the company's stock.

Adeia Stock Down 0.6%

Shares of Adeia stock opened at $30.13 on Tuesday. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $30.70. The business has a 50-day moving average of $24.06 and a two-hundred day moving average of $18.84. The company has a market capitalization of $3.34 billion, a P/E ratio of 30.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $182.64 million during the quarter, compared to the consensus estimate of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. As a group, equities analysts predict that Adeia Inc. will post 1.11 EPS for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Adeia's dividend payout ratio (DPR) is presently 20.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $40.00 price objective on shares of Adeia in a report on Thursday, April 2nd. BWS Financial restated a "buy" rating and issued a $30.00 price target on shares of Adeia in a report on Monday, March 9th. Wall Street Zen downgraded Adeia from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 11th. Zacks Research downgraded Adeia from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Finally, Roth Mkm increased their price target on Adeia from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.80.

Adeia Company Profile

Adeia Inc NASDAQ: ADEA is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.

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