Intech Investment Management LLC Invests $341,000 in Adeia Inc. (NASDAQ:ADEA)

Intech Investment Management LLC bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,518 shares of the company’s stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADEA. Vanguard Group Inc. raised its holdings in Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after purchasing an additional 132,718 shares in the last quarter. LSV Asset Management raised its stake in Adeia by 11.6% in the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after buying an additional 390,836 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Adeia by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after buying an additional 159,254 shares during the period. The Manufacturers Life Insurance Company boosted its position in Adeia by 1.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,467,711 shares of the company’s stock valued at $30,575,000 after acquiring an additional 25,846 shares in the last quarter. Finally, Boston Partners boosted its position in Adeia by 16.5% during the 1st quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after acquiring an additional 325,342 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a research report on Thursday, June 20th. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Thursday.

Adeia Stock Performance

Shares of ADEA opened at $11.93 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.30 billion, a P/E ratio of 35.09 and a beta of 1.46. The business’s 50 day moving average price is $11.68 and its 200-day moving average price is $11.22. Adeia Inc. has a 52 week low of $8.11 and a 52 week high of $13.39.

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

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Tuesday, August 27th. Adeia’s payout ratio is 58.83%.

About Adeia

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.