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

Jacobs Levy Equity Management Inc. reduced its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 37.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 0.17% of Adeia worth $2,668,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADEA. Maxim Group lifted their price objective on shares of Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. BWS Financial reaffirmed a "buy" rating and issued a $18.00 price target on shares of Adeia in a report on Tuesday, May 6th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Price Performance

Shares of ADEA traded down $0.05 during midday trading on Wednesday, hitting $13.42. 61,252 shares of the company traded hands, compared to its average volume of 538,244. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The firm has a market cap of $1.46 billion, a P/E ratio of 23.48 and a beta of 1.57. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a 50-day moving average of $12.83 and a 200-day moving average of $13.27.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analysts' expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, sell-side analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Tuesday, May 27th. Adeia's payout ratio is 30.30%.

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.