Adeia (NASDAQ:ADEA) Shares Down 3.5%

Adeia Inc. (NASDAQ:ADEA) traded down 3.5% during mid-day trading on Tuesday . The stock traded as low as $11.87 and last traded at $11.87. 242,722 shares changed hands during trading, a decline of 51% from the average session volume of 492,491 shares. The stock had previously closed at $12.30.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADEA. BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research report on Thursday, June 20th.

Adeia Stock Down 4.4 %

The business’s fifty day simple moving average is $11.67 and its 200 day simple moving average is $11.21. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 36.18 and a beta of 1.46. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Adeia had a return on equity of 33.28% and a net margin of 12.87%. The business had revenue of $87.35 million during the quarter, compared to the consensus estimate of $83.74 million. Equities analysts forecast that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. Adeia’s dividend payout ratio is 58.82%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. LSV Asset Management grew its holdings in shares of Adeia by 59.8% in the 1st quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock valued at $36,746,000 after buying an additional 1,259,857 shares during the period. Norges Bank acquired a new position in Adeia in the fourth quarter valued at about $9,198,000. Boston Partners increased its holdings in shares of Adeia by 16.5% in the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after acquiring an additional 325,342 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after purchasing an additional 159,254 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock valued at $154,167,000 after purchasing an additional 132,718 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

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.