JPMorgan Chase & Co. Has $12.23 Million Stake in Adeia Inc. (NASDAQ:ADEA)

JPMorgan Chase & Co. raised its position in shares of Adeia Inc. (NASDAQ:ADEA) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 875,044 shares of the company’s stock after acquiring an additional 46,249 shares during the period. JPMorgan Chase & Co. owned approximately 0.80% of Adeia worth $12,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC boosted its stake in Adeia by 66.2% during the 3rd quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock valued at $2,380,000 after purchasing an additional 79,565 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after buying an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Adeia by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company’s stock valued at $13,923,000 after acquiring an additional 30,485 shares during the period. Barclays PLC grew its stake in shares of Adeia by 51.9% in the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after acquiring an additional 78,276 shares during the last quarter. Finally, Natixis Advisors LLC bought a new position in Adeia during the fourth quarter worth $302,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Down 0.3 %

ADEA opened at $11.77 on Monday. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The company has a market capitalization of $1.28 billion, a P/E ratio of 20.65 and a beta of 1.47. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The firm’s fifty day moving average price is $13.83 and its two-hundred day moving average price is $13.15.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The business had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same period in the previous year, the business earned $0.27 EPS. On average, analysts anticipate that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $0.05 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. Adeia’s payout ratio is presently 35.09%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADEA. BWS Financial increased their price target on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Maxim Group increased their target price on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Adeia in a research note on Friday, February 28th.

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.