Nuveen LLC Purchases Shares of 879,094 Adeia Inc. $ADEA

Nuveen LLC purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 879,094 shares of the company’s stock, valued at approximately $11,622,000. Nuveen LLC owned approximately 0.81% of Adeia as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADEA. Castlekeep Investment Advisors LLC bought a new position in shares of Adeia during the fourth quarter valued at about $25,000. GAMMA Investing LLC grew its stake in shares of Adeia by 80.9% during the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock valued at $48,000 after buying an additional 1,611 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of 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 buying an additional 1,062 shares during the last quarter. Vestcor Inc grew its stake in shares of Adeia by 45.7% during the first quarter. Vestcor Inc now owns 11,593 shares of the company’s stock valued at $153,000 after buying an additional 3,638 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its stake in shares of Adeia by 9.9% in 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.

Analyst Ratings Changes

Several analysts recently issued reports on ADEA shares. Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research raised Adeia to a “strong-buy” rating in a research note on Friday, August 8th. Roth Capital initiated coverage on Adeia in a research note on Friday, June 20th. They issued a “buy” rating and a $26.00 target price on the stock. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, May 6th. Finally, BWS Financial restated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, Adeia has an average rating of “Buy” and an average price target of $19.50.

Adeia Price Performance

ADEA stock opened at $15.52 on Friday. The firm has a 50 day moving average price of $14.01 and a 200-day moving average price of $13.60. Adeia Inc. has a 52-week low of $10.59 and a 52-week high of $17.46. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.97 and a beta of 1.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09.

Adeia Announces Dividend

The company 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, August 26th. Adeia’s payout ratio is presently 27.03%.

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.