Adeia Inc. (NASDAQ:ADEA) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 875,044 shares of the company's stock after buying an additional 46,249 shares during the period. JPMorgan Chase & Co. owned 0.80% of Adeia worth $12,233,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Jane Street Group LLC increased its stake in Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company's stock worth $2,380,000 after acquiring an additional 79,565 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Adeia by 20.6% in the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock valued at $319,000 after purchasing an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Adeia by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company's stock worth $13,923,000 after purchasing an additional 30,485 shares during the last quarter. Barclays PLC raised its position in shares of Adeia by 51.9% in the 3rd quarter. Barclays PLC now owns 228,967 shares of the company's stock valued at $2,728,000 after purchasing an additional 78,276 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in shares of Adeia during the 4th quarter valued at approximately $302,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of research analyst reports. BWS Financial reiterated a "buy" rating and set a $18.00 price objective on shares of Adeia in a research note on Tuesday. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Adeia in a research report on Friday, February 28th. Finally, Maxim Group boosted their price objective on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, February 19th.

Adeia Stock Performance

Adeia stock traded down $0.10 during mid-day trading on Friday, reaching $11.88. The company's stock had a trading volume of 500,282 shares, compared to its average volume of 535,283. 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 Inc. has a twelve month low of $9.68 and a twelve month high of $17.46. The business has a 50 day moving average price of $13.73 and a 200-day moving average price of $13.14. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 20.84 and a beta of 1.47.

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

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, March 10th. Adeia's payout ratio is 35.09%.

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.