Allspring Global Investments Holdings LLC Invests $3.36 Million in Adeia Inc. $ADEA

Allspring Global Investments Holdings LLC bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 134,103 shares of the company’s stock, valued at approximately $3,362,000. Allspring Global Investments Holdings LLC owned 0.12% of Adeia at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADEA. Assenagon Asset Management S.A. lifted its stake in Adeia by 29.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after purchasing an additional 57,878 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Adeia in the third quarter worth about $3,259,000. Denali Advisors LLC purchased a new position in Adeia in the fourth quarter worth about $833,000. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Adeia by 20.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock worth $3,810,000 after acquiring an additional 37,749 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in Adeia by 45.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company’s stock worth $10,082,000 after acquiring an additional 183,670 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $25.95 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The firm has a market capitalization of $2.86 billion, a PE ratio of 24.03 and a beta of 1.36. The business’s 50 day moving average price is $29.27 and its 200-day moving average price is $25.23.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The firm had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. As a group, equities research analysts expect that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. Adeia’s dividend payout ratio is 18.52%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADEA. BWS Financial reissued a “buy” rating and issued a $30.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research cut shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Finally, Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Adeia presently has an average rating of “Moderate Buy” and an average price target of $33.60.

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.