Headlands Technologies LLC Purchases Shares of 18,056 Adeia Inc. (NASDAQ:ADEA)

Headlands Technologies LLC acquired a new stake in Adeia Inc. (NASDAQ:ADEA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,056 shares of the company’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Charles Schwab Investment Management Inc. increased its holdings in Adeia by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock valued at $11,498,000 after purchasing an additional 33,845 shares during the period. State Street Corp grew its position in shares of Adeia by 2.1% in the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after buying an additional 91,288 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Adeia by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,096,117 shares of the company’s stock valued at $13,055,000 after buying an additional 18,664 shares during the period. Jane Street Group LLC raised its holdings in shares of Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock valued at $2,380,000 after acquiring an additional 79,565 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after acquiring an additional 5,902 shares during the period. 97.36% of the stock is owned by institutional investors.

Adeia Stock Down 7.6 %

NASDAQ:ADEA opened at $11.23 on Friday. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46. The company has a market capitalization of $1.22 billion, a PE ratio of 19.70 and a beta of 1.44. The firm’s 50-day moving average price is $13.98 and its 200-day moving average price is $13.16. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $114.22 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. On average, equities analysts predict 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 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 1.78%. The ex-dividend date was Monday, March 10th. Adeia’s dividend payout ratio (DPR) is 35.09%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price objective on shares of Adeia in a report on Friday, February 28th. BWS Financial raised their price objective 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, Maxim Group upped their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

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.