Duality Advisers LP acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 39,197 shares of the company’s stock, valued at approximately $347,000.
A number of other institutional investors have also made changes to their positions in ADEA. BlackRock Inc. acquired a new position in Adeia in the first quarter valued at about $147,767,000. Ameriprise Financial Inc. acquired a new position in Adeia in the first quarter valued at about $108,275,000. Rubric Capital Management LP acquired a new position in Adeia in the first quarter valued at about $40,690,000. Dimensional Fund Advisors LP acquired a new position in Adeia in the first quarter valued at about $32,577,000. Finally, Neuberger Berman Group LLC acquired a new position in Adeia in the first quarter valued at about $28,779,000. 91.66% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Adeia in a report on Tuesday, August 8th.
Adeia Stock Performance
Shares of Adeia stock opened at $10.00 on Wednesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -3.57 and a beta of 1.23. The stock’s 50-day moving average is $10.60 and its 200-day moving average is $9.67. Adeia Inc. has a one year low of $6.52 and a one year high of $15.11. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.33 and a quick ratio of 2.33.
Adeia (NASDAQ:ADEA – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $83.22 million for the quarter, compared to analyst estimates of $84.17 million. Adeia had a positive return on equity of 29.68% and a negative net margin of 55.32%.
Adeia Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Monday, August 28th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, August 25th. This represents a $0.20 annualized dividend and a yield of 2.00%. Adeia’s payout ratio is presently -7.14%.
Adeia Company Profile
Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company worldwide. The company licenses its innovations to media and semiconductor industries and companies under the Adeia brand. It 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 and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, content storage devices, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices.
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