Raymond James & Associates Has $572,000 Stake in Adeia Inc. (NASDAQ:ADEA)

Raymond James & Associates boosted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 7.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,973 shares of the company’s stock after buying an additional 3,598 shares during the period. Raymond James & Associates’ holdings in Adeia were worth $572,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Olympiad Research LP bought a new position in shares of Adeia in the second quarter worth about $165,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Adeia by 88.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 232,800 shares of the company’s stock worth $2,563,000 after acquiring an additional 109,478 shares during the last quarter. Bailard Inc. lifted its holdings in shares of Adeia by 35.6% in the second quarter. Bailard Inc. now owns 54,900 shares of the company’s stock worth $604,000 after acquiring an additional 14,400 shares during the last quarter. TSP Capital Management Group LLC raised its holdings in Adeia by 7.0% in the 2nd quarter. TSP Capital Management Group LLC now owns 910,254 shares of the company’s stock valued at $10,022,000 after buying an additional 59,253 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in Adeia by 13.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 55,800 shares of the company’s stock valued at $614,000 after buying an additional 6,800 shares during the last quarter. 91.66% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Up 4.9 %

Shares of NASDAQ ADEA opened at $9.35 on Wednesday. The company has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $9.85. The firm has a market cap of $998.11 million, a PE ratio of -3.34 and a beta of 1.20. Adeia Inc. has a 1 year low of $7.12 and a 1 year high of $12.37. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.33 and a quick ratio of 2.33.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $83.22 million during the quarter, compared to analyst estimates of $84.17 million. Adeia had a negative net margin of 55.32% and a positive return on equity of 29.68%. On average, research analysts forecast that Adeia Inc. will post 1.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Stephens dropped their price objective on shares of Adeia from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, October 3rd.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company worldwide. The company licenses its innovations to media and semiconductor industries and companies under the Adeia brand. It 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 and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, content storage devices, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices.