New York State Common Retirement Fund Sells 2,224 Shares of Adeia Inc. (NASDAQ:ADEA)

New York State Common Retirement Fund lessened its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,040 shares of the company’s stock after selling 2,224 shares during the period. New York State Common Retirement Fund’s holdings in Adeia were worth $450,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Global Investments lifted its position in shares of Adeia by 1.9% during the 1st quarter. Summit Global Investments now owns 50,475 shares of the company’s stock worth $667,000 after buying an additional 931 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Adeia by 5.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock worth $272,000 after buying an additional 989 shares during the last quarter. Kendall Capital Management lifted its position in shares of Adeia by 3.1% during the 1st quarter. Kendall Capital Management now owns 34,401 shares of the company’s stock worth $455,000 after buying an additional 1,050 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Adeia by 14.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock worth $113,000 after buying an additional 1,062 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Adeia by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock worth $48,000 after buying an additional 1,611 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $13.25 on Friday. The stock has a fifty day simple moving average of $13.69 and a two-hundred day simple moving average of $13.47. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 20.08 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors 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 dividend yield of 1.51%. Adeia’s payout ratio is 30.30%.

Analyst Ratings Changes

ADEA has been the topic of a number of research reports. Roth Capital initiated coverage on Adeia in a research report on Friday, June 20th. They set a “buy” rating and a $26.00 price objective on the stock. BWS Financial restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Wednesday, July 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th.

Adeia 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.