Royce & Associates LP Buys 50,512 Shares of Adeia Inc. (NASDAQ:ADEA)

Royce & Associates LP raised its stake in Adeia Inc. (NASDAQ:ADEA) by 22.2% in the third quarter, Holdings Channel.com reports. The firm owned 277,630 shares of the company’s stock after acquiring an additional 50,512 shares during the period. Royce & Associates LP’s holdings in Adeia were worth $3,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in shares of Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after buying an additional 1,483 shares during the period. Vanguard Group Inc. raised its holdings in Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock valued at $154,167,000 after acquiring an additional 132,718 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Adeia by 35.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after acquiring an additional 5,316 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Adeia by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after acquiring an additional 3,793 shares during the period. Finally, Aristides Capital LLC acquired a new stake in shares of Adeia during the 1st quarter worth approximately $213,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Down 1.5 %

NASDAQ ADEA opened at $11.43 on Tuesday. Adeia Inc. has a 1-year low of $9.05 and a 1-year high of $14.24. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 32.28 and a beta of 1.44. The stock’s 50 day moving average is $12.11 and its two-hundred day moving average is $11.65. The company has a current ratio of 3.42, a quick ratio of 3.00 and a debt-to-equity ratio of 1.32.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio is 55.56%.

Analyst Upgrades and Downgrades

ADEA has been the subject of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $15.00 target price on shares of Adeia in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and set a $16.00 price objective on shares of Adeia in a report on Monday, November 11th.

Adeia 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.