The Manufacturers Life Insurance Company increased its stake in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,169,614 shares of the company's stock after buying an additional 132,395 shares during the quarter. The Manufacturers Life Insurance Company owned 1.99% of Adeia worth $30,331,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ADEA. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Adeia during the fourth quarter worth $33,000. Picton Mahoney Asset Management increased its position 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 acquiring an additional 972 shares during the last quarter. KBC Group NV lifted 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 acquiring an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new stake in Adeia in the 4th quarter valued at $142,000. Finally, Cibc World Markets Corp acquired a new position in Adeia in the 4th quarter valued at about $142,000. Institutional investors own 97.36% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a "buy" rating and set a $20.00 target price on shares of Adeia in a report on Friday, February 28th. BWS Financial reaffirmed a "buy" rating and set a $18.00 target price on shares of Adeia in a research note on Tuesday, April 15th. Finally, Maxim Group upped their price target on Adeia from $15.00 to $17.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th.
View Our Latest Stock Analysis on ADEA
Adeia Stock Performance
Shares of NASDAQ:ADEA traded up $0.25 during mid-day trading on Friday, reaching $12.61. The company had a trading volume of 413,095 shares, compared to its average volume of 537,126. The company's 50-day moving average price is $13.17 and its 200-day moving average price is $13.18. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 22.12 and a beta of 1.47. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.
Adeia (NASDAQ:ADEA - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $114.22 million. During the same period in the previous year, the business earned $0.27 EPS. As a group, equities research analysts anticipate 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.59%. The ex-dividend date was Monday, March 10th. Adeia's payout ratio is 35.09%.
Adeia Company Profile
(
Free Report)
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.
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