Adeia Inc. (NASDAQ:ADEA) Shares Bought by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 52.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,836 shares of the company’s stock after acquiring an additional 972 shares during the quarter. Picton Mahoney Asset Management’s holdings in Adeia were worth $39,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in Adeia by 1.1% during the 4th quarter. Swiss National Bank now owns 214,246 shares of the company’s stock worth $2,995,000 after acquiring an additional 2,300 shares during the period. KBC Group NV lifted its holdings in shares of Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after buying an additional 2,977 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Adeia by 20.6% in the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after buying an additional 3,900 shares during the period. Zacks Investment Management lifted its holdings in shares of Adeia by 51.5% in the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after buying an additional 5,902 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Adeia by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after buying an additional 6,700 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

Shares of Adeia stock opened at $13.67 on Monday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $17.46. The business has a 50-day moving average price of $13.92 and a 200 day moving average price of $13.02. The firm has a market cap of $1.47 billion, a PE ratio of 23.98 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced 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. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. During the same quarter in the previous year, the business earned $0.27 EPS. Sell-side analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. Adeia’s dividend payout ratio is presently 35.09%.

Analyst Upgrades and Downgrades

ADEA has been the subject of several analyst reports. Maxim Group boosted their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. BWS Financial boosted their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Adeia in a report on Friday, February 28th.

Adeia Company 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.