Intech Investment Management LLC Increases Position in Adeia Inc. (NASDAQ:ADEA)

Intech Investment Management LLC increased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 250.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,303 shares of the company’s stock after purchasing an additional 321,970 shares during the period. Intech Investment Management LLC owned 0.41% of Adeia worth $6,295,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its holdings in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the period. KBC Group NV raised its stake in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after purchasing an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in Adeia in the 4th quarter worth approximately $142,000. Cibc World Markets Corp purchased a new position in Adeia in the 4th quarter worth approximately $142,000. Finally, Hohimer Wealth Management LLC bought a new position in Adeia in the 3rd quarter worth approximately $190,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADEA. BWS Financial boosted 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. Maxim Group lifted their price target on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Adeia in a report on Friday, February 28th.

Adeia Stock Down 2.1 %

NASDAQ ADEA opened at $13.60 on Wednesday. The stock has a 50 day moving average price of $13.91 and a 200-day moving average price of $13.04. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market capitalization of $1.46 billion, a P/E ratio of 23.86 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter last year, the business earned $0.27 earnings per share. As a group, equities analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.47%. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

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.