Adeia Inc. (NASDAQ:ADEA) Stake Cut by LSV Asset Management

LSV Asset Management cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,143,694 shares of the company's stock after selling 262,300 shares during the quarter. LSV Asset Management owned about 2.88% of Adeia worth $43,949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management boosted its position in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company's stock worth $39,000 after acquiring an additional 972 shares during the last quarter. KBC Group NV boosted its holdings in shares of Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock valued at $97,000 after purchasing an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Adeia during the 4th quarter valued at $142,000. Cibc World Markets Corp acquired a new stake in shares of Adeia during the 4th quarter worth $142,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Adeia in the 4th quarter worth $168,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Stock Down 0.8 %

NASDAQ:ADEA traded down $0.09 during trading hours on Thursday, hitting $11.89. The stock had a trading volume of 159,886 shares, compared to its average volume of 666,472. The business has a 50 day simple moving average of $13.78 and a two-hundred day simple moving average of $13.14. Adeia Inc. has a 1-year low of $9.68 and a 1-year 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. The company has a market cap of $1.29 billion, a PE ratio of 20.87 and a beta of 1.47.

Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $119.17 million for the quarter, compared to the consensus estimate 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 firm posted $0.27 EPS. Analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADEA shares. Maxim Group upped their price target on Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. BWS Financial reaffirmed a "buy" rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $20.00 target price on shares of Adeia in a research note on Friday, February 28th.

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.