Adeia Inc. (NASDAQ:ADEA) Position Increased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its position in shares of Adeia Inc. (NASDAQ:ADEA) by 20.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,487 shares of the company’s stock after buying an additional 4,059 shares during the quarter. Teacher Retirement System of Texas’ holdings in Adeia were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Kendall Capital Management lifted its stake in Adeia by 3.1% during the first quarter. Kendall Capital Management now owns 34,401 shares of the company’s stock valued at $455,000 after buying an additional 1,050 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Adeia by 9.6% during the first quarter. New York State Teachers Retirement System now owns 148,732 shares of the company’s stock valued at $1,966,000 after buying an additional 13,078 shares in the last quarter. Skylands Capital LLC lifted its stake in Adeia by 17.3% during the first quarter. Skylands Capital LLC now owns 307,400 shares of the company’s stock valued at $4,064,000 after buying an additional 45,400 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in Adeia by 21.1% during the first quarter. Illinois Municipal Retirement Fund now owns 61,510 shares of the company’s stock valued at $813,000 after buying an additional 10,704 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new stake in Adeia during the first quarter valued at about $175,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADEA. Roth Capital began coverage on shares of Adeia in a research report on Friday, June 20th. They issued a “buy” rating and a $26.00 price target for the company. BWS Financial reissued a “buy” rating and issued a $18.00 price target on shares of Adeia in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $17.00 price target on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Price Performance

NASDAQ ADEA opened at $13.82 on Friday. The company has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $13.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.94 and a quick ratio of 2.94. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 20.94 and a beta of 1.59. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.45%. The ex-dividend date was Tuesday, May 27th. Adeia’s payout ratio is presently 30.30%.

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.