UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $10.22 Million Stock Holdings in Adeia Inc. $ADEA

Key Points

• UBS Asset Management increased its Adeia stake by 21.7% in the second quarter, acquiring 55,446 additional shares. Its holdings totaled 310,445 shares valued at approximately $10.22 million, while institutional investors collectively owned 97.36% of the company.
• Analyst sentiment remains favorable, with four Buy ratings and two Hold ratings producing a “Moderate Buy” consensus and an average price target of $37.60. BWS Financial raised its target to $50 from $30.
• Adeia exceeded quarterly earnings expectations, reporting adjusted EPS of $0.34 versus the $0.31 consensus, though revenue of $96.12 million was slightly below estimates. The company also declared a quarterly dividend of $0.05 per share, yielding 0.8% annually.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 21.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 310,445 shares of the company's stock after buying an additional 55,446 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.28% of Adeia worth $10,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ritholtz Wealth Management boosted its holdings in Adeia by 2.5% during the first quarter. Ritholtz Wealth Management now owns 14,972 shares of the company's stock worth $360,000 after buying an additional 364 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Adeia by 7.1% in the 2nd quarter. GAMMA Investing LLC now owns 7,864 shares of the company's stock valued at $259,000 after acquiring an additional 523 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Adeia by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 21,153 shares of the company's stock valued at $365,000 after acquiring an additional 656 shares during the period. Redmond Asset Management LLC raised its position in shares of Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company's stock valued at $3,318,000 after acquiring an additional 727 shares during the period. Finally, Amundi grew its holdings in Adeia by 4.5% during the fourth quarter. Amundi now owns 19,003 shares of the company's stock valued at $328,000 after purchasing an additional 827 shares during the period. Institutional investors own 97.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ADEA shares. BWS Financial increased their target price on shares of Adeia from $30.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Weiss Ratings downgraded Adeia from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday, August 4th. Finally, Zacks Research raised Adeia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.60.

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $26.50 on Monday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 24.54 and a beta of 1.38. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The company's fifty day simple moving average is $27.61 and its 200 day simple moving average is $27.04. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. As a group, research analysts forecast that Adeia Inc. will post 1.17 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 24th. Adeia's dividend payout ratio is currently 18.52%.

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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