Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its position in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,941,966 shares of the company's stock after buying an additional 233,675 shares during the quarter. Vanguard Group Inc. owned about 13.01% of Adeia worth $148,900,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ADEA. Comerica Bank bought a new stake in Adeia in the third quarter valued at $548,000. Jacobs Levy Equity Management Inc. increased its stake in Adeia by 0.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 438,048 shares of the company's stock valued at $4,678,000 after purchasing an additional 2,227 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Adeia by 4.2% in the third quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company's stock valued at $26,079,000 after purchasing an additional 97,792 shares in the last quarter. Rubric Capital Management LP increased its stake in Adeia by 1.0% in the third quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company's stock valued at $49,555,000 after purchasing an additional 47,448 shares in the last quarter. Finally, Corton Capital Inc. increased its stake in Adeia by 35.1% in the third quarter. Corton Capital Inc. now owns 21,006 shares of the company's stock valued at $224,000 after purchasing an additional 5,456 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities assumed coverage on shares of Adeia in a report on Friday, February 23rd. They set a "buy" rating and a $15.00 price objective for the company.

Adeia Stock Down 1.4 %

Shares of NASDAQ ADEA traded down $0.15 during mid-day trading on Tuesday, reaching $10.65. 594,344 shares of the company's stock traded hands, compared to its average volume of 548,078. The stock has a market cap of $1.15 billion, a P/E ratio of 18.05 and a beta of 1.43. The business has a 50-day simple moving average of $11.60 and a 200 day simple moving average of $10.66. Adeia Inc. has a 1-year low of $7.12 and a 1-year high of $13.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02.

Adeia (NASDAQ:ADEA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Adeia had a net margin of 17.33% and a return on equity of 42.74%. The firm had revenue of $86.87 million during the quarter, compared to analysts' expectations of $89.23 million. On average, analysts expect that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.88%. The ex-dividend date was Monday, March 11th. Adeia's dividend payout ratio (DPR) is presently 33.90%.

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.