Jacobs Levy Equity Management Inc. Sells 113,873 Shares of Adeia Inc. (NASDAQ:ADEA)

Jacobs Levy Equity Management Inc. lowered its position in Adeia Inc. (NASDAQ:ADEA - Free Report) by 37.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 190,860 shares of the company's stock after selling 113,873 shares during the period. Jacobs Levy Equity Management Inc. owned 0.17% of Adeia worth $2,668,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ADEA. Deutsche Bank AG increased its holdings in shares of Adeia by 30.1% during the fourth quarter. Deutsche Bank AG now owns 208,957 shares of the company's stock valued at $2,921,000 after acquiring an additional 48,382 shares in the last quarter. CastleKnight Management LP increased its stake in Adeia by 19.2% during the 4th quarter. CastleKnight Management LP now owns 311,000 shares of the company's stock valued at $4,348,000 after purchasing an additional 50,100 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Adeia during the fourth quarter worth $25,000. Balyasny Asset Management L.P. bought a new position in shares of Adeia in the fourth quarter valued at $474,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Adeia in the fourth quarter valued at $234,000. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

Shares of ADEA traded down $0.16 on Monday, reaching $13.42. 327,877 shares of the company's stock traded hands, compared to its average volume of 539,204. The stock's 50 day simple moving average is $12.85 and its two-hundred day simple moving average is $13.26. The stock has a market cap of $1.46 billion, a PE ratio of 23.54 and a beta of 1.57. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period last year, the firm posted $0.27 EPS. On average, analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. Adeia's dividend payout ratio (DPR) is presently 30.30%.

Analyst Ratings Changes

ADEA has been the topic of a number of analyst reports. BWS Financial restated a "buy" rating and issued a $18.00 target price on shares of Adeia in a report on Tuesday, May 6th. Maxim Group raised their target price on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $17.00 price target on shares of Adeia in a report on Tuesday, May 6th.

Adeia 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.