Prudent Man Advisors LLC Trims Stock Position in Adeia Inc. (NASDAQ:ADEA)

Prudent Man Advisors LLC reduced its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,658 shares of the company’s stock after selling 1,624 shares during the quarter. Prudent Man Advisors LLC’s holdings in Adeia were worth $191,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADEA. Hotchkis & Wiley Capital Management LLC purchased a new position in Adeia during the 3rd quarter valued at $8,412,000. Systematic Financial Management LP increased its position in Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock valued at $25,728,000 after purchasing an additional 313,741 shares during the period. Harvey Partners LLC increased its position in Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after purchasing an additional 168,000 shares during the period. Intech Investment Management LLC increased its position in Adeia by 320.5% during the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after purchasing an additional 97,815 shares during the period. Finally, State Street Corp increased its position in Adeia by 2.1% during the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after purchasing an additional 91,288 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Adeia in a research report on Friday. BWS Financial boosted their target price on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Maxim Group boosted their target price on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA stock opened at $15.72 on Friday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The stock has a market cap of $1.69 billion, a PE ratio of 27.58 and a beta of 1.37. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average price is $13.79 and its 200-day moving average price is $12.82.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, March 10th. Adeia’s payout ratio is 35.09%.

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.