Tudor Investment Corp ET AL Takes Position in Adeia Inc. $ADEA

Key Points

• Tudor Investment Corp ET AL acquired a new stake of 193,989 shares in Adeia (~$3.26M), representing 0.18% of the company, while overall institutional ownership is very high at 97.36%.
• Research firms have turned broadly positive—five Buys and one Hold—giving Adeia an average rating of Moderate Buy and an average price target of $28.80.
• Adeia recently beat quarterly estimates with EPS of $0.86 (vs. $0.73 expected) and revenue of $182.6M; the stock has a market cap of $2.97B, a P/E of 27.4, and a yield of 0.7%.

Tudor Investment Corp ET AL acquired a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 193,989 shares of the company's stock, valued at approximately $3,259,000. Tudor Investment Corp ET AL owned 0.18% of Adeia at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of Adeia by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company's stock valued at $205,166,000 after acquiring an additional 97,666 shares during the period. Harvey Partners LLC lifted its position in Adeia by 0.5% in the second quarter. Harvey Partners LLC now owns 3,189,944 shares of the company's stock worth $45,106,000 after purchasing an additional 17,444 shares during the period. Dimensional Fund Advisors LP lifted its position in Adeia by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company's stock worth $47,364,000 after purchasing an additional 13,412 shares during the period. The Manufacturers Life Insurance Company lifted its position in Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company's stock worth $39,109,000 after purchasing an additional 448,274 shares during the period. Finally, Boston Partners lifted its position in Adeia by 0.6% in the third quarter. Boston Partners now owns 2,479,151 shares of the company's stock worth $41,577,000 after purchasing an additional 14,445 shares during the period. 97.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ADEA shares. Maxim Group raised their target price on Adeia from $17.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, December 23rd. Roth Mkm raised their target price on Adeia from $27.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, March 16th. Weiss Ratings raised Adeia from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 12th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $40.00 target price on shares of Adeia in a research report on Thursday, April 2nd. Finally, UBS Group set a $20.00 target price on Adeia in a research report on Tuesday, December 23rd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.80.

Adeia Stock Down 0.7%

Shares of NASDAQ ADEA opened at $26.87 on Friday. The stock has a market cap of $2.97 billion, a PE ratio of 27.42 and a beta of 1.30. The business has a fifty day moving average of $21.75 and a two-hundred day moving average of $17.90. Adeia Inc. has a 52-week low of $11.51 and a 52-week high of $27.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. The company had revenue of $182.64 million during the quarter, compared to analysts' expectations of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. As a group, equities research analysts expect that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Monday, March 16th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend 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%.

About Adeia

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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