Adeia Inc. $ADEA Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in Adeia Inc. (NASDAQ:ADEA) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,422,746 shares of the company’s stock after selling 86,896 shares during the quarter. Ameriprise Financial Inc. owned approximately 13.17% of Adeia worth $242,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Adeia by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock worth $855,000 after purchasing an additional 2,829 shares during the last quarter. Caxton Associates LLP bought a new position in shares of Adeia in the 1st quarter worth about $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Adeia by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after buying an additional 42,918 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Adeia by 1,193.2% in the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after buying an additional 321,976 shares during the period. Finally, Focus Partners Wealth bought a new stake in shares of Adeia during the 1st quarter valued at about $167,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADEA shares. UBS Group set a $20.00 price objective on shares of Adeia in a research note on Tuesday, December 23rd. Rosenblatt Securities lifted their target price on Adeia to $40.00 and gave the company a “buy” rating in a research note on Monday, March 9th. BWS Financial reaffirmed a “buy” rating and set a $30.00 target price on shares of Adeia in a report on Monday, March 9th. Wall Street Zen upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, Maxim Group raised their price target on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.80.

Adeia Price Performance

Shares of Adeia stock opened at $22.96 on Tuesday. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $23.80. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.50 billion, a PE ratio of 23.43 and a beta of 1.41. The company’s 50-day moving average price is $19.50 and its two-hundred day moving average price is $16.71.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The company had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. As a group, sell-side analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 16th. Adeia’s dividend payout ratio (DPR) is presently 20.41%.

Adeia 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.