132,548 Shares in Adeia Inc. $ADEA Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC bought a new stake in Adeia Inc. (NASDAQ:ADEA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 132,548 shares of the company’s stock, valued at approximately $1,874,000. Cresset Asset Management LLC owned approximately 0.12% of Adeia at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Adeia in the first quarter valued at approximately $11,622,000. Invesco Ltd. boosted its position in Adeia by 122.2% in the 1st quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock valued at $12,709,000 after buying an additional 528,617 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Adeia by 110.7% in the second quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after acquiring an additional 395,462 shares in the last quarter. Jane Street Group LLC increased its position in shares of Adeia by 1,193.2% during the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after acquiring an additional 321,976 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of Adeia by 55.3% in the first quarter. Public Sector Pension Investment Board now owns 423,485 shares of the company’s stock valued at $5,598,000 after acquiring an additional 150,757 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Adeia in a research note on Monday, December 1st. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price objective on shares of Adeia in a research report on Tuesday, November 4th. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a report on Monday, November 3rd. BWS Financial reiterated a “buy” rating and set a $18.00 price target on shares of Adeia in a report on Tuesday, November 4th. Finally, Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Adeia Trading Up 1.9%

NASDAQ ADEA opened at $12.75 on Tuesday. The firm’s fifty day moving average price is $14.81 and its 200 day moving average price is $14.53. Adeia Inc. has a 12 month low of $10.59 and a 12 month high of $18.25. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 19.62 and a beta of 1.51.

Adeia (NASDAQ:ADEA) last released 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). Adeia had a net margin of 19.32% and a return on equity of 29.36%. The company had revenue of $87.34 million during the quarter, compared to analyst estimates of $99.24 million. On average, sell-side analysts expect that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

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

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.