Empowered Funds LLC Has $1.58 Million Stake in Adeia Inc. (NASDAQ:ADEA)

Empowered Funds LLC increased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 132,316 shares of the company’s stock after buying an additional 6,700 shares during the quarter. Empowered Funds LLC’s holdings in Adeia were worth $1,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Adeia by 0.9% in the first quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock valued at $154,167,000 after buying an additional 132,718 shares in the last quarter. LSV Asset Management grew its holdings in Adeia by 11.6% during the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after purchasing an additional 390,836 shares during the period. Dimensional Fund Advisors LP increased its position in 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 buying an additional 159,254 shares during the last quarter. Boston Partners raised its stake in Adeia by 16.5% in the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after buying an additional 325,342 shares during the period. Finally, Systematic Financial Management LP lifted its position in shares of Adeia by 1.4% in the second quarter. Systematic Financial Management LP now owns 1,846,460 shares of the company’s stock valued at $20,653,000 after buying an additional 25,796 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $12.10 on Friday. The business’s 50 day moving average is $12.12 and its 200-day moving average is $11.67. The firm has a market cap of $1.32 billion, a P/E ratio of 32.50 and a beta of 1.44. Adeia Inc. has a 1-year low of $9.05 and a 1-year high of $14.24. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.65%. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Ratings Changes

A number of research firms recently weighed in on ADEA. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research report on Friday, November 8th.

Adeia 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.