The Manufacturers Life Insurance Company Sells 17,442 Shares of Adeia Inc. (NASDAQ:ADEA)

The Manufacturers Life Insurance Company decreased its holdings in Adeia Inc. (NASDAQ:ADEA) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,037,219 shares of the company’s stock after selling 17,442 shares during the period. The Manufacturers Life Insurance Company owned about 1.87% of Adeia worth $24,263,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ADEA. Dynamic Technology Lab Private Ltd bought a new stake in Adeia in the 3rd quarter valued at $253,000. Charles Schwab Investment Management Inc. raised its position in shares of Adeia by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock valued at $11,498,000 after purchasing an additional 33,845 shares during the period. Intech Investment Management LLC lifted its stake in shares of Adeia by 320.5% during the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after buying an additional 97,815 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of Adeia by 76,084.3% during the 3rd quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock worth $463,000 after buying an additional 38,803 shares during the period. Finally, Seizert Capital Partners LLC acquired a new position in Adeia in the 3rd quarter valued at about $197,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

NASDAQ ADEA opened at $12.12 on Friday. The firm has a 50-day moving average price of $12.11 and a two-hundred day moving average price of $11.72. Adeia Inc. has a 12-month low of $9.05 and a 12-month high of $14.24. The company has a market capitalization of $1.32 billion, a P/E ratio of 33.67 and a beta of 1.44. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Dividend Announcement

The business 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. This represents a $0.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is currently 55.56%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADEA. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Adeia in a report on Friday, November 8th. 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.

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.