Assenagon Asset Management S.A. Grows Stock Holdings in Adeia Inc. $ADEA

Assenagon Asset Management S.A. lifted its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 29.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 257,441 shares of the company’s stock after acquiring an additional 57,878 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.24% of Adeia worth $4,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. IFP Advisors Inc bought a new position in Adeia in the third quarter worth approximately $28,000. Quarry LP lifted its holdings in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the period. CWM LLC grew its position in shares of Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after buying an additional 1,988 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after buying an additional 2,309 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Adeia during the third quarter valued at $56,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $24.19 on Monday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. The stock has a market capitalization of $2.68 billion, a P/E ratio of 24.68 and a beta of 1.41. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $26.09. The business has a fifty day moving average price of $20.47 and a 200 day moving average price of $17.27.

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

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 16th. Adeia’s payout ratio is currently 20.41%.

Analyst Ratings Changes

ADEA has been the subject of several recent research reports. Wall Street Zen upgraded Adeia from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 7th. Maxim Group raised their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. BWS Financial restated a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Monday, March 9th. UBS Group set a $20.00 price target on shares of Adeia in a research report on Tuesday, December 23rd. Finally, Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Adeia presently has a consensus rating of “Moderate Buy” and an average price target of $28.80.

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.