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

Systematic Financial Management LP boosted its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,276,288 shares of the company's stock after acquiring an additional 116,087 shares during the quarter. Systematic Financial Management LP owned 2.08% of Adeia worth $31,822,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC purchased a new stake in shares of Adeia in the fourth quarter worth approximately $25,000. Ameriprise Financial Inc. boosted its position in shares of Adeia by 6.3% during the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company's stock valued at $204,902,000 after buying an additional 874,098 shares during the last quarter. Intech Investment Management LLC grew its holdings in Adeia by 250.9% during the fourth quarter. Intech Investment Management LLC now owns 450,303 shares of the company's stock worth $6,295,000 after buying an additional 321,970 shares in the last quarter. Norges Bank bought a new stake in Adeia during the fourth quarter worth $3,288,000. Finally, Raymond James Financial Inc. purchased a new stake in Adeia in the 4th quarter valued at $2,470,000. Institutional investors and hedge funds own 97.36% of the company's stock.

Adeia Stock Performance

Shares of Adeia stock traded up $0.08 during trading hours on Thursday, hitting $13.09. 139,178 shares of the company's stock traded hands, compared to its average volume of 620,142. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.96 and a beta of 1.57. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The company has a fifty day simple moving average of $12.82 and a 200-day simple moving average of $13.26.

Adeia (NASDAQ:ADEA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities research analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Tuesday, May 27th. Adeia's dividend payout ratio is currently 30.30%.

Wall Street Analysts Forecast Growth

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

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.