Systematic Financial Management LP Sells 205,065 Shares of Adeia Inc. $ADEA

Key Points

• Systematic Financial Management LP cut its Adeia stake by 7.1% in Q1, selling 205,065 shares and ending with 2,686,066 shares valued at about $64.5 million.
• Adeia’s latest quarterly results topped expectations, with EPS of $0.38 versus $0.36 estimated and revenue of $104.77 million versus $99.72 million forecast.
• Despite some analyst downgrades, Wall Street’s overall view remains Moderate Buy, with an average price target of $33.60; the stock was trading near $26.91 and recently paid a quarterly dividend of $0.05 per share.

Systematic Financial Management LP decreased its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,686,066 shares of the company's stock after selling 205,065 shares during the period. Adeia makes up about 1.5% of Systematic Financial Management LP's portfolio, making the stock its 7th biggest holding. Systematic Financial Management LP owned about 2.44% of Adeia worth $64,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Adeia by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company's stock valued at $855,000 after purchasing an additional 2,829 shares during the period. Caxton Associates LLP acquired a new stake in shares of Adeia during the first quarter worth about $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Adeia by 22.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company's stock worth $3,059,000 after purchasing an additional 42,918 shares during the period. Jane Street Group LLC boosted its position in Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company's stock valued at $4,613,000 after buying an additional 321,976 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in Adeia in the first quarter valued at approximately $167,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Stock Down 1.4%

Shares of ADEA stock opened at $26.91 on Friday. Adeia Inc. has a twelve month low of $11.61 and a twelve month high of $34.34. The stock has a market cap of $2.97 billion, a P/E ratio of 24.92 and a beta of 1.36. The stock has a 50 day moving average of $29.35 and a 200 day moving average of $25.23. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. As a group, sell-side analysts expect that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Adeia's dividend payout ratio is 18.52%.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Roth Capital reiterated a "buy" rating and issued a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Adeia from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.60.

Adeia 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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