UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 55,446 Shares of Adeia Inc. $ADEA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 21.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 310,445 shares of the company’s stock after acquiring an additional 55,446 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Adeia were worth $10,223,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new stake in Adeia in the 2nd quarter valued at $34,000. Hantz Financial Services Inc. lifted its position in 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 buying an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Adeia during the 3rd quarter worth about $28,000. Quarry LP grew its holdings in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Adeia in the 2nd quarter valued at about $54,000. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Adeia stock opened at $26.50 on Monday. The firm has a market capitalization of $2.92 billion, a PE ratio of 24.54 and a beta of 1.38. The company’s 50-day moving average is $27.61 and its 200-day moving average is $27.04. Adeia Inc. has a fifty-two week low of $11.61 and a fifty-two week 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.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. Sell-side analysts anticipate that Adeia Inc. will post 1.17 earnings per share for the current year.

Adeia Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings lowered Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. BWS Financial boosted their price target on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Adeia presently has an average rating of “Moderate Buy” and an average target price of $37.60.

About Adeia

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.