Louisiana State Employees Retirement System Has $626,000 Holdings in Adeia Inc. (NASDAQ:ADEA)

Louisiana State Employees Retirement System reduced its position in Adeia Inc. (NASDAQ:ADEA) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 52,600 shares of the company’s stock after selling 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Adeia were worth $626,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ADEA. Wedge Capital Management L L P NC boosted its stake in shares of Adeia by 4.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 105,188 shares of the company’s stock worth $1,253,000 after acquiring an additional 4,283 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Adeia by 243.7% during the 3rd quarter. SG Americas Securities LLC now owns 69,627 shares of the company’s stock worth $829,000 after acquiring an additional 49,367 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Adeia during the 2nd quarter valued at approximately $404,000. Systematic Financial Management LP boosted its stake in Adeia by 1.4% during the 2nd quarter. Systematic Financial Management LP now owns 1,846,460 shares of the company’s stock valued at $20,653,000 after purchasing an additional 25,796 shares during the period. Finally, Algert Global LLC bought a new stake in Adeia during the 2nd quarter valued at approximately $122,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

Shares of Adeia stock opened at $12.79 on Wednesday. The stock’s fifty day simple moving average is $12.08 and its 200 day simple moving average is $11.52. Adeia Inc. has a 12 month low of $8.84 and a 12 month high of $13.39. The company has a market capitalization of $1.39 billion, a PE ratio of 31.98 and a beta of 1.44. 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 earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. On average, research analysts predict that Adeia Inc. will post 1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ADEA. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Thursday, October 31st. BWS Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Adeia in a report on Thursday, September 26th.

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.