SG Americas Securities LLC Raises Holdings in Adeia Inc. (NASDAQ:ADEA)

SG Americas Securities LLC grew its position in shares of Adeia Inc. (NASDAQ:ADEA) by 60.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,254 shares of the company’s stock after purchasing an additional 21,302 shares during the quarter. SG Americas Securities LLC owned approximately 0.05% of Adeia worth $744,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Castlekeep Investment Advisors LLC acquired a new position in Adeia in the 4th quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Adeia in the 4th quarter valued at about $33,000. Picton Mahoney Asset Management increased its position in Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the period. GAMMA Investing LLC increased its position in Adeia by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock valued at $48,000 after acquiring an additional 1,611 shares during the period. Finally, Cibc World Markets Corp acquired a new position in Adeia in the 4th quarter valued at about $142,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 5.2%

ADEA stock opened at $13.74 on Friday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 20.82 and a beta of 1.59. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.13. The business has a fifty day simple moving average of $12.93 and a 200-day simple moving average of $13.41. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. Adeia’s payout ratio is currently 30.30%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Roth Capital assumed coverage on Adeia in a report on Friday. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, BWS Financial reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Tuesday, May 6th.

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.