Pacer Advisors Inc. Sells 270,853 Shares of Adeia Inc. $ADEA

Pacer Advisors Inc. decreased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 33.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 533,586 shares of the company’s stock after selling 270,853 shares during the quarter. Pacer Advisors Inc. owned about 0.49% of Adeia worth $8,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Ameriprise Financial Inc. increased its position in shares of Adeia by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after buying an additional 97,666 shares during the period. Harvey Partners LLC boosted its position in Adeia by 0.5% during the second quarter. Harvey Partners LLC now owns 3,189,944 shares of the company’s stock valued at $45,106,000 after acquiring an additional 17,444 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Adeia by 6.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company’s stock worth $30,638,000 after acquiring an additional 147,971 shares in the last quarter. Finally, Systematic Financial Management LP lifted its stake in shares of Adeia by 1.4% in the 2nd quarter. Systematic Financial Management LP now owns 2,293,737 shares of the company’s stock valued at $32,433,000 after purchasing an additional 31,315 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADEA. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a research note on Monday, December 22nd. BWS Financial reaffirmed a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Tuesday, November 4th. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Roth Capital reissued a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Finally, UBS Group set a $20.00 price target on shares of Adeia in a report on Tuesday, December 23rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Adeia currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.80.

Adeia Price Performance

Shares of ADEA opened at $16.94 on Monday. The business’s fifty day moving average is $14.17 and its 200 day moving average is $14.66. Adeia Inc. has a 12-month low of $10.59 and a 12-month high of $18.25. The company has a quick ratio of 3.72, a current ratio of 3.72 and a debt-to-equity ratio of 1.01. The stock has a market cap of $1.86 billion, a P/E ratio of 26.06 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 for the quarter, missing the consensus estimate of $0.36 by ($0.08). Adeia had a return on equity of 29.36% and a net margin of 19.32%.The business had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Sell-side analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.20 annualized dividend and a yield of 1.2%. Adeia’s dividend payout ratio (DPR) is presently 30.77%.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.