Invesco Ltd. Has $12.71 Million Holdings in Adeia Inc. $ADEA

Invesco Ltd. lifted its holdings in Adeia Inc. (NASDAQ:ADEA) by 122.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 961,356 shares of the company’s stock after acquiring an additional 528,617 shares during the period. Invesco Ltd. owned approximately 0.89% of Adeia worth $12,709,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Global Investments grew its stake in shares of Adeia by 1.9% in the first quarter. Summit Global Investments now owns 50,475 shares of the company’s stock valued at $667,000 after acquiring an additional 931 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of 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 in the last quarter. Kendall Capital Management grew its stake in shares of Adeia by 3.1% in the first quarter. Kendall Capital Management now owns 34,401 shares of the company’s stock valued at $455,000 after acquiring an additional 1,050 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Adeia by 14.2% in the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock valued at $113,000 after acquiring an additional 1,062 shares in 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 valued at $171,000 after acquiring an additional 1,161 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Adeia in a research note on Tuesday, May 6th. 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 set a “buy” rating and a $26.00 price objective on the stock. BWS Financial reiterated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research note on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Adeia to a “strong-buy” rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $19.50.

Adeia Stock Up 6.3%

Shares of NASDAQ ADEA opened at $15.52 on Friday. The company has a 50 day simple moving average of $14.01 and a 200 day simple moving average of $13.61. The firm has a market cap of $1.70 billion, a PE ratio of 20.97 and a beta of 1.53. Adeia Inc. has a 1 year low of $10.59 and a 1 year high of $17.46. 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. 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 dividend payout ratio (DPR) is 27.03%.

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.