Raymond James & Associates Buys 6,186 Shares of Adeia Inc. (NASDAQ:ADEA)

Raymond James & Associates grew its position in Adeia Inc. (NASDAQ:ADEA) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 62,891 shares of the company’s stock after buying an additional 6,186 shares during the quarter. Raymond James & Associates’ holdings in Adeia were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Adeia by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after acquiring an additional 233,675 shares during the period. Boston Partners bought a new position in shares of Adeia in the third quarter worth about $7,168,000. The Manufacturers Life Insurance Company lifted its position in shares of Adeia by 4.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company’s stock worth $26,079,000 after purchasing an additional 97,792 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Adeia by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 842,812 shares of the company’s stock valued at $9,001,000 after purchasing an additional 34,678 shares during the period. Finally, LSV Asset Management increased its holdings in Adeia by 36.4% during the 3rd quarter. LSV Asset Management now owns 1,700,001 shares of the company’s stock valued at $18,156,000 after purchasing an additional 453,601 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Price Performance

Shares of ADEA stock opened at $10.38 on Wednesday. Adeia Inc. has a 1 year low of $7.12 and a 1 year high of $13.39. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average is $10.96 and its 200-day moving average is $10.69. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 17.59 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $86.87 million for the quarter, compared to the consensus estimate of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. Sell-side analysts forecast that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 1.93%. Adeia’s dividend payout ratio is currently 33.90%.

Wall Street Analyst Weigh In

ADEA has been the topic of a number of recent analyst reports. Rosenblatt Securities began coverage on Adeia in a research note on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Adeia in a report on Friday, April 19th.

Adeia Company 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.