US Bancorp DE Cuts Position in Adeia Inc. $ADEA

US Bancorp DE decreased its position in Adeia Inc. (NASDAQ:ADEA) by 87.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,355 shares of the company’s stock after selling 24,367 shares during the quarter. US Bancorp DE’s holdings in Adeia were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in Adeia by 6.3% in the fourth quarter. Ameriprise Financial Inc. now owns 14,656,979 shares of the company’s stock valued at $204,902,000 after purchasing an additional 874,098 shares during the period. Dimensional Fund Advisors LP raised its position in Adeia by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,853,732 shares of the company’s stock valued at $39,894,000 after purchasing an additional 60,941 shares during the period. Systematic Financial Management LP raised its position in Adeia by 5.4% in the fourth quarter. Systematic Financial Management LP now owns 2,276,288 shares of the company’s stock valued at $31,822,000 after purchasing an additional 116,087 shares during the period. The Manufacturers Life Insurance Company raised its position in Adeia by 6.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,169,614 shares of the company’s stock valued at $30,331,000 after purchasing an additional 132,395 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in Adeia in the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of ADEA stock opened at $14.81 on Wednesday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average price of $13.94 and a 200 day moving average price of $13.56. The company has a market cap of $1.62 billion, a P/E ratio of 20.01 and a beta of 1.53. Adeia Inc. has a 12 month low of $10.59 and a 12 month high of $17.46.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 26th. Adeia’s dividend payout ratio is currently 27.03%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Zacks Research raised Adeia to a “strong-buy” rating in a research report on Friday, August 8th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. 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 assumed coverage on shares of Adeia in a research note on Friday, June 20th. They issued a “buy” rating and a $26.00 price target for the company. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Adeia in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat, Adeia has an average rating of “Buy” and an average target price of $19.50.

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.