Ritholtz Wealth Management Purchases New Shares in Adeia Inc. (NASDAQ:ADEA)

Ritholtz Wealth Management purchased a new stake in Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,209 shares of the company’s stock, valued at approximately $175,000.

Other institutional investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in 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. Charles Schwab Investment Management Inc. boosted its stake in 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. Natixis Advisors LLC bought a new stake in Adeia in the 4th quarter valued at $302,000. Royce & Associates LP boosted its stake in Adeia by 13.6% in the 4th quarter. Royce & Associates LP now owns 315,264 shares of the company’s stock valued at $4,407,000 after purchasing an additional 37,634 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Adeia by 2,291.2% in the 1st quarter. GAMMA Investing LLC now owns 47,632 shares of the company’s stock valued at $630,000 after purchasing an additional 45,640 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $13.74 on Friday. The firm has a 50 day moving average of $12.93 and a 200-day moving average of $13.41. The stock has a market capitalization of $1.49 billion, a PE ratio of 20.82 and a beta of 1.59. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46.

Adeia Dividend Announcement

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

Analysts Set New Price Targets

ADEA has been the subject of several recent research reports. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th. Roth Capital initiated coverage on Adeia in a report on Friday. They set a “buy” rating and a $26.00 target price on the stock. Finally, BWS Financial reissued a “buy” rating and set a $18.00 target price on shares of Adeia in a report on Tuesday, May 6th.

Adeia Company 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.