Bank of New York Mellon Corp Purchases 6,653 Shares of Adeia Inc. $ADEA

Bank of New York Mellon Corp raised its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,074,075 shares of the company’s stock after buying an additional 6,653 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Adeia worth $15,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Quarry LP bought a new stake in shares of Adeia during the 1st quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Adeia in the first quarter worth $43,000. Brooklyn Investment Group purchased a new stake in Adeia in the first quarter worth $44,000. GAMMA Investing LLC lifted its position in shares of Adeia by 85.4% during the second quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock worth $94,000 after purchasing an additional 3,078 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Adeia during the second quarter valued at $150,000. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ADEA. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a research note on Thursday. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a research note on Monday, November 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Adeia in a report on Tuesday, November 4th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.50.

Adeia Price Performance

Shares of ADEA opened at $12.41 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. The company has a 50 day moving average price of $15.97 and a 200-day moving average price of $14.64. Adeia Inc. has a fifty-two week low of $10.59 and a fifty-two week high of $18.25. The stock has a market capitalization of $1.36 billion, a PE ratio of 16.77 and a beta of 1.78.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $87.34 million for the quarter, compared to analysts’ expectations of $99.24 million. Adeia had a net margin of 22.15% and a return on equity of 30.31%. Adeia has set its FY 2025 guidance at EPS. Equities analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 24th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 24th. Adeia’s payout ratio is presently 30.77%.

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.