Adeia Inc. $ADEA Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its holdings in Adeia Inc. (NASDAQ:ADEA) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 407,834 shares of the company’s stock after selling 157,871 shares during the quarter. Royce & Associates LP’s holdings in Adeia were worth $7,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new position in Adeia in the third quarter valued at approximately $28,000. Quarry LP boosted its holdings in Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Adeia in the third quarter valued at approximately $56,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $27.20 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The stock has a fifty day moving average price of $27.44 and a 200 day moving average price of $20.73. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a market cap of $3.00 billion, a PE ratio of 25.19 and a beta of 1.48.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The firm had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. Sell-side analysts forecast that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s dividend payout ratio is presently 18.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADEA shares. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BWS Financial reaffirmed a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday, May 5th. Roth Mkm reaffirmed a “buy” rating and issued a $43.00 price target on shares of Adeia in a report on Tuesday, May 5th. Finally, Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Adeia 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.