State of Alaska Department of Revenue Buys 4,049 Shares of Adeia Inc. $ADEA

State of Alaska Department of Revenue increased its stake in Adeia Inc. (NASDAQ:ADEA) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,592 shares of the company’s stock after purchasing an additional 4,049 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Adeia worth $913,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in Adeia in the 1st quarter worth $44,000. Ritholtz Wealth Management bought a new position in Adeia in the 1st quarter worth $175,000. GAMMA Investing LLC raised its holdings in Adeia by 80.9% in the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock worth $48,000 after purchasing an additional 1,611 shares during the period. New York State Teachers Retirement System increased its stake in Adeia by 9.6% in the 1st quarter. New York State Teachers Retirement System now owns 148,732 shares of the company’s stock worth $1,966,000 after buying an additional 13,078 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Adeia by 60.9% in the 1st quarter. SG Americas Securities LLC now owns 56,254 shares of the company’s stock worth $744,000 after buying an additional 21,302 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Stock Up 4.2%

ADEA opened at $18.01 on Tuesday. The firm has a 50-day simple moving average of $15.28 and a two-hundred day simple moving average of $13.94. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $18.03. The company has a market capitalization of $1.97 billion, a PE ratio of 24.34 and a beta of 1.74. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, August 26th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.1%. Adeia’s dividend payout ratio (DPR) is presently 27.03%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADEA shares. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adeia in a research note on Saturday, September 27th. Roth Capital started coverage on Adeia in a research note on Friday, June 20th. They issued a “buy” rating and a $26.00 price target for the company. BWS Financial reiterated a “buy” rating and issued a $18.00 price target on shares of Adeia in a research note on Monday. Finally, Zacks Research upgraded Adeia to a “strong-buy” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Adeia currently has a consensus rating of “Buy” and a consensus target price of $19.50.

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.