Systematic Financial Management LP Acquires 116,087 Shares of Adeia Inc. (NASDAQ:ADEA)

Systematic Financial Management LP increased its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,276,288 shares of the company's stock after purchasing an additional 116,087 shares during the period. Systematic Financial Management LP owned 2.08% of Adeia worth $31,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. ProShare Advisors LLC lifted its holdings in shares of Adeia by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 32,799 shares of the company's stock valued at $459,000 after purchasing an additional 10,096 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Adeia by 9.4% during the 4th quarter. Nuveen Asset Management LLC now owns 845,508 shares of the company's stock worth $11,820,000 after buying an additional 72,813 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new position in shares of Adeia in the 4th quarter valued at about $608,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Adeia by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,872 shares of the company's stock worth $865,000 after buying an additional 2,325 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Adeia by 30.1% in the fourth quarter. Deutsche Bank AG now owns 208,957 shares of the company's stock valued at $2,921,000 after acquiring an additional 48,382 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company's stock.

Analysts Set New Price Targets

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

Adeia Price Performance

NASDAQ:ADEA opened at $13.58 on Friday. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 23.82 and a beta of 1.57. The company has a 50-day moving average of $12.85 and a 200-day moving average of $13.25. 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 announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $114.22 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, equities research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, May 27th. Adeia's payout ratio is currently 30.30%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.