Mutual of America Capital Management LLC Sells 314,267 Shares of Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC reduced its position in shares of Adeia Inc. (NASDAQ:ADEA) by 73.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,932 shares of the company’s stock after selling 314,267 shares during the period. Mutual of America Capital Management LLC owned 0.10% of Adeia worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ADEA. Castlekeep Investment Advisors LLC bought a new stake in Adeia in the 4th quarter valued at $25,000. Ameriprise Financial Inc. raised its stake in shares of Adeia by 6.3% in the 4th quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company’s stock valued at $204,902,000 after buying an additional 874,098 shares in the last quarter. Norges Bank acquired a new position in shares of Adeia in the 4th quarter valued at $3,288,000. Raymond James Financial Inc. bought a new position in Adeia during the 4th quarter valued at about $2,470,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Adeia during the 4th quarter valued at about $2,370,000. 97.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Roth Capital began coverage on shares of Adeia in a report on Friday, June 20th. They set a “buy” rating and a $26.00 price target for the company. BWS Financial reaffirmed a “buy” rating and issued a $18.00 price target on shares of Adeia in a research note on Wednesday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Trading Down 2.3%

ADEA stock opened at $13.82 on Monday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.94 and a current ratio of 2.94. The company’s 50-day simple moving average is $13.71 and its 200 day simple moving average is $13.48. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46. The company has a market capitalization of $1.50 billion, a PE ratio of 20.94 and a beta of 1.59.

Adeia Announces Dividend

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