XTX Topco Ltd Invests $1.16 Million in Adeia Inc. (NASDAQ:ADEA)

Key Points

• XTX Topco Ltd has invested approximately $1.16 million in Adeia Inc. by acquiring 87,902 shares, which accounts for about 0.08% of the company's total shares.
• Adeia recently paid a quarterly dividend of $0.05 per share, translating to an annualized dividend yield of 1.6%.
• Several research firms have set new price targets for Adeia, with Roth Capital recommending a "buy" and a target price of $26.00, indicating a potential upside for investors.

XTX Topco Ltd bought a new stake in Adeia Inc. (NASDAQ:ADEA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 87,902 shares of the company's stock, valued at approximately $1,162,000. XTX Topco Ltd owned 0.08% of Adeia at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in shares of Adeia by 6.3% in the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock worth $204,902,000 after acquiring an additional 874,098 shares during the period. Vanguard Group Inc. lifted its stake in Adeia by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company's stock worth $201,642,000 after purchasing an additional 143,297 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Adeia by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company's stock worth $39,894,000 after purchasing an additional 60,941 shares in the last quarter. Geode Capital Management LLC lifted its stake in Adeia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company's stock worth $36,734,000 after purchasing an additional 10,883 shares in the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of Adeia by 5.4% in the fourth quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company's stock worth $31,822,000 after purchasing an additional 116,087 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Price Performance

Shares of NASDAQ ADEA traded up $1.32 during mid-day trading on Wednesday, reaching $13.81. 787,144 shares of the company were exchanged, compared to its average volume of 588,719. Adeia Inc. has a 52 week low of $10.31 and a 52 week high of $17.46. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $1.50 billion, a PE ratio of 20.89 and a beta of 1.53. The company's 50 day moving average price is $13.66 and its 200 day moving average price is $13.46.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADEA shares. Roth Capital started coverage on shares of Adeia in a report on Friday, June 20th. They issued a "buy" rating and a $26.00 price target on the stock. BWS Financial reaffirmed a "buy" rating and issued a $18.00 price target on shares of Adeia in a report on Wednesday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $17.00 price target on shares of Adeia in a report on Tuesday, May 6th.

About Adeia

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.