NewEdge Wealth LLC Makes New $3.33 Million Investment in Adeia Inc. $ADEA

NewEdge Wealth LLC bought a new position in Adeia Inc. (NASDAQ:ADEA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 101,185 shares of the company’s stock, valued at approximately $3,332,000.

Other large investors have also bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in shares of Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares during the period. Quarry LP grew its stake in Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc bought a new position in Adeia in the third quarter worth $28,000. Osaic Holdings Inc. lifted its position in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in Adeia by 148.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after acquiring an additional 1,781 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADEA shares. BWS Financial upped their price target on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Zacks Research raised shares of Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings cut shares of Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and a consensus price target of $37.60.

Adeia Price Performance

NASDAQ ADEA opened at $26.96 on Friday. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 24.96 and a beta of 1.39. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. 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 business’s fifty day moving average price is $28.82 and its 200-day moving average price is $26.47.

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

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be given a $0.05 dividend. The ex-dividend date is Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

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.