EntryPoint Capital LLC Invests $168,000 in Adeia Inc. (NASDAQ:ADEA)

EntryPoint Capital LLC purchased a new position in Adeia Inc. (NASDAQ:ADEA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,984 shares of the company’s stock, valued at approximately $168,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in Adeia by 52.1% during the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after buying an additional 972 shares during the last quarter. KBC Group NV lifted its stake in Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new position in Adeia during the fourth quarter worth $142,000. Cibc World Markets Corp acquired a new position in Adeia in the fourth quarter worth $142,000. Finally, Hohimer Wealth Management LLC bought a new stake in Adeia during the third quarter valued at $190,000. 97.36% of the stock is owned by institutional investors.

Adeia Stock Performance

Shares of ADEA opened at $13.25 on Friday. The firm has a fifty day moving average of $14.03 and a 200-day moving average of $13.14. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 23.25 and a beta of 1.44. 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 Inc. has a 1 year low of $9.68 and a 1 year high of $17.46.

Adeia (NASDAQ:ADEA) last posted its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) 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 firm 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 posted $0.27 EPS. As a group, equities analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, March 10th. Adeia’s dividend payout ratio is currently 35.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADEA shares. Maxim Group raised their price target 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. BWS Financial raised their target price on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price 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.