Evolve Private Wealth LLC Takes $1.70 Million Position in Adeia Inc. $ADEA

Evolve Private Wealth LLC bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 51,636 shares of the company’s stock, valued at approximately $1,700,000.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in Adeia during the second quarter valued at approximately $1,550,000. Fifth Third Bancorp boosted its holdings in Adeia by 13,439.1% during the first quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock worth $1,347,000 after buying an additional 55,638 shares in the last quarter. Denali Advisors LLC acquired a new position in Adeia in the fourth quarter worth approximately $833,000. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Adeia by 20.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock valued at $3,810,000 after buying an additional 37,749 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Adeia by 45.8% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company’s stock valued at $10,082,000 after acquiring an additional 183,670 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Down 2.6%

ADEA stock opened at $26.25 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market capitalization of $2.89 billion, a P/E ratio of 24.31 and a beta of 1.39. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34. The company’s 50 day simple moving average is $28.70 and its 200-day simple moving average is $26.46.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The firm had revenue of $96.12 million during the quarter, compared to analyst estimates of $96.79 million. As a group, equities research analysts anticipate that Adeia Inc. will post 1.17 EPS for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be issued a $0.05 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s dividend payout ratio is presently 18.52%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ADEA shares. BWS Financial raised their price objective on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Roth Capital reaffirmed a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Maxim Group set a $35.00 target price on Adeia in a report on Wednesday, May 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.