Vanguard Group Inc. Reduces Stake in Adeia Inc. $ADEA

Vanguard Group Inc. reduced its position in shares of Adeia Inc. (NASDAQ:ADEA) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,138,086 shares of the company’s stock after selling 285,487 shares during the period. Vanguard Group Inc. owned approximately 13.04% of Adeia worth $186,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Global Investments raised 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 valued at $667,000 after buying an additional 931 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Adeia by 5.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock valued at $272,000 after acquiring an additional 989 shares during the last quarter. Kendall Capital Management raised its position 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 purchasing an additional 1,050 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Adeia by 14.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock valued at $113,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Carmel Capital Partners LLC lifted its stake in Adeia by 9.9% during the first quarter. Carmel Capital Partners LLC now owns 12,904 shares of the company’s stock worth $171,000 after purchasing an additional 1,161 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $14.81 on Wednesday. Adeia Inc. has a 1 year low of $10.59 and a 1 year high of $17.46. The stock has a market capitalization of $1.62 billion, a P/E ratio of 20.01 and a beta of 1.53. The company’s 50-day moving average is $13.94 and its 200 day moving average is $13.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.09 and a quick ratio of 3.09.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. Adeia’s dividend payout ratio (DPR) is presently 27.03%.

Analyst Ratings Changes

ADEA has been the topic of several research reports. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of Adeia in a research note on Tuesday, May 6th. BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Wednesday, August 6th. Finally, Zacks Research upgraded Adeia to a “strong-buy” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat.com, Adeia has an average rating of “Buy” and a consensus target price of $19.50.

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.