Adeia Inc. (NASDAQ:ADEA) Holdings Reduced by Rhumbline Advisers

Rhumbline Advisers decreased its position in Adeia Inc. (NASDAQ:ADEA) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 308,601 shares of the company’s stock after selling 2,534 shares during the period. Rhumbline Advisers owned approximately 0.28% of Adeia worth $4,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADEA. Castlekeep Investment Advisors LLC acquired a new stake in shares of Adeia in the 4th quarter worth approximately $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Adeia in the 4th quarter worth approximately $33,000. Picton Mahoney Asset Management lifted its stake in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after acquiring an additional 972 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Adeia in the 4th quarter worth approximately $142,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Adeia in the 4th quarter worth approximately $168,000. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADEA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th. BWS Financial reaffirmed a “buy” rating and issued a $18.00 price target on shares of Adeia in a research note on Tuesday, May 6th. Finally, Maxim Group upped their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Adeia Stock Down 5.8%

ADEA stock opened at $13.02 on Friday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The firm has a market cap of $1.41 billion, a PE ratio of 22.84 and a beta of 1.59. The firm has a 50 day simple moving average of $12.80 and a 200 day simple moving average of $13.38. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, May 27th. Adeia’s dividend payout ratio is presently 30.30%.

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.