Select Equity Group L.P. Has $9.62 Million Holdings in Adeia Inc. (NASDAQ:ADEA)

Select Equity Group L.P. decreased its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 688,064 shares of the company's stock after selling 33,881 shares during the quarter. Select Equity Group L.P. owned 0.63% of Adeia worth $9,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ADEA. Castlekeep Investment Advisors LLC purchased a new position in shares of Adeia during the fourth quarter valued at $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Adeia in the fourth quarter valued at about $33,000. Picton Mahoney Asset Management grew its stake in 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 in the last quarter. KBC Group NV grew its stake in Adeia by 74.6% in the fourth 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 in the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new position in Adeia in the fourth quarter valued at about $142,000. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Stock Up 0.4%

Shares of ADEA traded up $0.05 during trading hours on Tuesday, hitting $13.47. 468,732 shares of the company were exchanged, compared to its average volume of 540,121. The company has a market cap of $1.46 billion, a PE ratio of 23.63 and a beta of 1.57. The firm's 50 day moving average is $12.83 and its 200-day moving average is $13.27. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate 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 quarter in the previous year, the firm earned $0.27 EPS. On average, equities research analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued 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 (DPR) is 30.30%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADEA. Maxim Group boosted their target price on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Rosenblatt Securities restated a "buy" rating and issued a $17.00 target price on shares of Adeia in a research note on Tuesday, May 6th. Finally, BWS Financial reiterated a "buy" rating and issued a $18.00 price objective on shares of Adeia in a report on Tuesday, May 6th.

Adeia 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.