GAMMA Investing LLC Buys 45,640 Shares of Adeia Inc. (NASDAQ:ADEA)

GAMMA Investing LLC grew its stake in Adeia Inc. (NASDAQ:ADEA) by 2,291.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,632 shares of the company’s stock after purchasing an additional 45,640 shares during the period. GAMMA Investing LLC’s holdings in Adeia were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADEA. Principal Financial Group Inc. grew its stake in shares of Adeia by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 532,709 shares of the company’s stock valued at $7,447,000 after purchasing an additional 17,130 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Adeia by 20.6% in the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after purchasing an additional 3,900 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Adeia by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company’s stock valued at $15,715,000 after purchasing an additional 13,619 shares during the period. SVB Wealth LLC bought a new stake in shares of Adeia in the 4th quarter valued at approximately $423,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Adeia by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company’s stock valued at $13,923,000 after purchasing an additional 30,485 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Adeia Stock Up 0.2%

Shares of ADEA opened at $13.06 on Thursday. The company has a market capitalization of $1.42 billion, a P/E ratio of 19.79 and a beta of 1.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.94 and a quick ratio of 2.94. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The business’s 50 day simple moving average is $12.86 and its 200-day simple moving average is $13.40.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Tuesday, May 27th. Adeia’s payout ratio is currently 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.