Occudo Quantitative Strategies LP Makes New $608,000 Investment in Adeia Inc. (NASDAQ:ADEA)

Occudo Quantitative Strategies LP purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,487 shares of the company's stock, valued at approximately $608,000.

Several other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company's stock worth $319,000 after acquiring an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 increased its position in shares of Adeia by 51.9% during the 3rd quarter. Barclays PLC now owns 228,967 shares of the company's stock worth $2,728,000 after purchasing an additional 78,276 shares during the last quarter. Natixis Advisors LLC purchased a new stake in Adeia in the 4th quarter valued at about $302,000. Finally, Royce & Associates LP lifted its position in Adeia by 13.6% in the fourth quarter. Royce & Associates LP now owns 315,264 shares of the company's stock valued at $4,407,000 after buying an additional 37,634 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Trading Up 0.4%

NASDAQ ADEA traded up $0.06 during trading on Tuesday, hitting $13.48. The stock had a trading volume of 60,683 shares, compared to its average volume of 537,323. 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 company has a market capitalization of $1.46 billion, a PE ratio of 23.63 and a beta of 1.57. 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 twelve month low of $9.68 and a twelve month high of $17.46.

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 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 quarter last year, the firm posted $0.27 earnings per share. As a group, equities research analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current 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 given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.20 annualized dividend and a yield of 1.48%. Adeia's dividend payout ratio is presently 30.30%.

Wall Street Analysts Forecast Growth

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

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.