Adeia Inc. (NASDAQ:ADEA) Short Interest Up 10.7% in August

Adeia Inc. (NASDAQ:ADEA) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 3,310,000 shares, a growth of 10.7% from the July 31st total of 2,990,000 shares. Based on an average daily volume of 497,300 shares, the days-to-cover ratio is currently 6.7 days. Currently, 3.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Innealta Capital LLC purchased a new position in shares of Adeia in the second quarter worth $47,000. EMC Capital Management raised its stake in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after purchasing an additional 2,360 shares during the last quarter. Algert Global LLC purchased a new position in shares of Adeia in the second quarter worth $122,000. Aristides Capital LLC purchased a new position in shares of Adeia in the first quarter worth $213,000. Finally, SG Americas Securities LLC purchased a new position in shares of Adeia in the second quarter worth $227,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Up 1.4 %

Shares of NASDAQ:ADEA opened at $12.60 on Friday. The stock has a fifty day simple moving average of $11.39 and a two-hundred day simple moving average of $11.16. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 37.06 and a beta of 1.47. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, August 6th. 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 $87.35 million during the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. On average, research analysts anticipate that Adeia will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, August 27th. Adeia’s dividend payout ratio is currently 58.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a research report on Thursday, June 20th.

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.