Dimensional Fund Advisors LP Has $30.74 Million Position in Adeia Inc. (NASDAQ:ADEA)

Dimensional Fund Advisors LP grew its holdings in Adeia Inc. (NASDAQ:ADEA) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,748,258 shares of the company’s stock after purchasing an additional 159,254 shares during the quarter. Dimensional Fund Advisors LP owned about 2.53% of Adeia worth $30,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Adeia during the fourth quarter worth $9,198,000. Wellington Management Group LLP raised its stake in Adeia by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 576,745 shares of the company’s stock worth $7,146,000 after buying an additional 80,146 shares during the period. LSV Asset Management boosted its holdings in Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock worth $36,746,000 after acquiring an additional 1,259,857 shares in the last quarter. Boston Partners grew its stake in Adeia by 16.5% in the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after acquiring an additional 325,342 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Adeia by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after purchasing an additional 3,793 shares during the period. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

ADEA opened at $11.74 on Wednesday. The firm’s fifty day moving average price is $11.68 and its two-hundred day moving average price is $11.23. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 34.53 and a beta of 1.46. The company has a debt-to-equity ratio of 1.42, a current ratio of 3.00 and a quick ratio of 3.00. Adeia Inc. has a 1 year low of $8.11 and a 1 year high of $13.39.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. As a group, analysts anticipate that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, August 27th. Adeia’s payout ratio is 58.83%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADEA shares. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Thursday, September 26th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Adeia in a research note on Thursday, June 20th.

About Adeia

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.