Northern Trust Corp Acquires 89,633 Shares of Adeia Inc. (NASDAQ:ADEA)

Northern Trust Corp boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,227,987 shares of the company's stock after purchasing an additional 89,633 shares during the period. Northern Trust Corp owned approximately 1.12% of Adeia worth $17,167,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Adeia during the 4th quarter worth approximately $33,000. Picton Mahoney Asset Management boosted its stake 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 valued at $39,000 after purchasing an additional 972 shares during the period. KBC Group NV lifted its position in shares of Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company's stock worth $97,000 after buying an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new position in Adeia during the 4th quarter valued at about $142,000. Finally, Cibc World Markets Corp purchased a new position in shares of Adeia in the fourth quarter worth approximately $142,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Trading Down 0.2%

ADEA traded down $0.02 during trading hours on Tuesday, reaching $13.40. 10,925 shares of the company's stock traded hands, compared to its average volume of 537,156. The firm has a 50-day moving average price of $12.84 and a 200 day moving average price of $13.27. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $1.45 billion, a PE ratio of 23.46 and a beta of 1.57.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million during the quarter, compared to analysts' expectations of $114.22 million. During the same period in the previous year, the business 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 Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on ADEA. Rosenblatt Securities reissued a "buy" rating and issued a $17.00 price target on shares of Adeia in a report on Tuesday, May 6th. BWS Financial reiterated a "buy" rating and issued a $18.00 target price on shares of Adeia in a report on Tuesday, May 6th. Finally, Maxim Group lifted their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th.

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.