Vanguard Group Inc. Sells 285,487 Shares of Adeia Inc. $ADEA

Key Points

• Vanguard Group Inc. reduced its stake in Adeia Inc. by 2.0%, owning approximately 13.04% of the company, valued at $186.9 million after selling 285,487 shares in the first quarter.
• Adeia recently announced a quarterly dividend of $0.05, translating to an annualized dividend yield of 1.4%, with a payout ratio of 27.03%.
• Adeia has received mixed analyst ratings, with one analyst upgrading it to a "strong buy" and a consensus target price of approximately $19.50.

Vanguard Group Inc. lowered its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,138,086 shares of the company's stock after selling 285,487 shares during the period. Vanguard Group Inc. owned approximately 13.04% of Adeia worth $186,905,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in shares of Adeia by 6.3% in the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after acquiring an additional 874,098 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Adeia by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock valued at $39,894,000 after purchasing an additional 60,941 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Adeia by 5.4% during the 4th quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company's stock valued at $31,822,000 after purchasing an additional 116,087 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Adeia by 6.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,169,614 shares of the company's stock valued at $30,331,000 after purchasing an additional 132,395 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Adeia during the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Trading Up 0.4%

ADEA traded up $0.06 on Monday, hitting $15.58. 520,027 shares of the company were exchanged, compared to its average volume of 551,816. The firm has a fifty day simple moving average of $14.06 and a two-hundred day simple moving average of $13.63. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. Adeia Inc. has a 12 month low of $10.59 and a 12 month high of $17.46. The stock has a market capitalization of $1.70 billion, a PE ratio of 21.05 and a beta of 1.53.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, August 26th. Adeia's dividend payout ratio (DPR) is presently 27.03%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADEA. Wall Street Zen lowered Adeia from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded Adeia to a "strong-buy" rating in a research report on Friday, August 8th. Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and set a $18.00 price objective on shares of Adeia in a research report on Wednesday, August 6th. Finally, Roth Capital began coverage on Adeia in a research report on Friday, June 20th. They set a "buy" rating and a $26.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to data from MarketBeat, Adeia has an average rating of "Buy" and an average target price of $19.50.

Adeia Company Profile

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.