Allspring Global Investments Holdings LLC Reduces Stake in Adeia Inc. (NASDAQ:ADEA)

Allspring Global Investments Holdings LLC lessened its holdings in Adeia Inc. (NASDAQ:ADEA) by 62.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,945 shares of the company’s stock after selling 208,013 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Adeia worth $1,573,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Adeia by 35.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after acquiring an additional 903,568 shares during the period. Cooper Creek Partners Management LLC purchased a new position in shares of Adeia during the 3rd quarter valued at about $9,291,000. Boston Partners acquired a new position in shares of Adeia in the 3rd quarter valued at about $7,168,000. Foundry Partners LLC purchased a new stake in shares of Adeia in the third quarter worth about $5,016,000. Finally, LSV Asset Management grew its holdings in Adeia by 36.4% during the third quarter. LSV Asset Management now owns 1,700,001 shares of the company’s stock worth $18,156,000 after acquiring an additional 453,601 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Stock Performance

Shares of ADEA stock opened at $9.97 on Tuesday. The company has a market capitalization of $1.08 billion, a P/E ratio of 16.90 and a beta of 1.43. Adeia Inc. has a 12-month low of $7.12 and a 12-month high of $13.39. The business’s 50 day moving average is $10.98 and its two-hundred day moving average is $10.68. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million for the quarter, compared to analysts’ expectations of $89.23 million. Adeia had a net margin of 17.33% and a return on equity of 42.74%. Analysts expect that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 2.01%. Adeia’s dividend payout ratio (DPR) is presently 33.90%.

Analysts Set New Price Targets

Several equities research analysts have commented on ADEA shares. Rosenblatt Securities assumed coverage on Adeia in a research report on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective on the stock. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Friday.

Adeia Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company 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, as well as content providers, networks, and media companies.