Louisiana State Employees Retirement System Acquires New Shares in Adeia Inc. (NASDAQ:ADEA)

Louisiana State Employees Retirement System purchased a new position in Adeia Inc. (NASDAQ:ADEA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,600 shares of the company’s stock, valued at approximately $664,000.

Several other large investors also recently modified their holdings of ADEA. Parkside Financial Bank & Trust increased its holdings in shares of Adeia by 635.7% in the third quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $25,000 after acquiring an additional 2,028 shares in the last quarter. Highlander Capital Management LLC grew its holdings in shares of Adeia by 267.3% during the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after buying an additional 1,518 shares in the last quarter. Carmel Capital Partners LLC bought a new position in shares of Adeia during the third quarter worth about $33,000. Selway Asset Management bought a new position in shares of Adeia during the third quarter worth about $36,000. Finally, EMC Capital Management grew its holdings in shares of Adeia by 2,732.0% during the third quarter. EMC Capital Management now owns 8,496 shares of the company’s stock worth $91,000 after buying an additional 8,196 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $10.14 on Monday. The stock has a 50 day moving average price of $10.84 and a 200 day moving average price of $10.72. Adeia Inc. has a 52 week low of $7.12 and a 52 week high of $13.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.02 and a current ratio of 2.02. The stock has a market capitalization of $1.10 billion, a PE ratio of 17.19 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The firm had revenue of $86.87 million during the quarter, compared to analysts’ expectations of $89.23 million. Analysts predict that Adeia Inc. will post 1.18 earnings per share 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 of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a yield of 1.97%. Adeia’s dividend payout ratio (DPR) is presently 33.90%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADEA. Rosenblatt Securities began coverage on Adeia in a report on Friday, February 23rd. They set a “buy” rating and a $15.00 price objective for the company. BWS Financial reiterated a “buy” rating and set a $16.00 price objective on shares of Adeia in a report on Friday, April 19th.

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.