Wells Fargo & Company MN Increases Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Wells Fargo & Company MN grew its position in Adeia Inc. (NASDAQ:ADEA) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,905 shares of the company’s stock after buying an additional 16,762 shares during the quarter. Wells Fargo & Company MN owned 0.05% of Adeia worth $823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its position in Adeia by 52.1% during the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after purchasing an additional 972 shares in the last quarter. KBC Group NV increased its position in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in Adeia during the 4th quarter worth about $142,000. Cibc World Markets Corp purchased a new stake in Adeia during the 4th quarter worth about $142,000. Finally, EntryPoint Capital LLC purchased a new stake in Adeia during the 4th quarter worth about $168,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ADEA shares. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Adeia in a report on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Adeia in a report on Tuesday, April 15th.

Adeia Stock Down 1.5 %

ADEA opened at $12.31 on Thursday. 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 stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 21.60 and a beta of 1.47. The business has a 50-day moving average of $13.34 and a two-hundred day moving average of $13.17. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46.

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

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, March 10th. Adeia’s dividend payout ratio is currently 35.09%.

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.