Short Interest in Adeia Inc. (NASDAQ:ADEA) Rises By 11.4%

Adeia Inc. (NASDAQ:ADEA) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, an increase of 11.4% from the October 31st total of 3,080,000 shares. Based on an average daily trading volume, of 433,700 shares, the days-to-cover ratio is currently 7.9 days. Currently, 3.4% of the company’s shares are short sold.

Institutional Investors Weigh In On Adeia

Several large investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Adeia during the second quarter worth $47,000. Algert Global LLC acquired a new stake in Adeia during the 2nd quarter worth $122,000. Hohimer Wealth Management LLC bought a new position in Adeia during the third quarter worth about $190,000. Seizert Capital Partners LLC acquired a new position in Adeia in the third quarter valued at about $197,000. Finally, Zacks Investment Management grew its stake in Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after acquiring an additional 5,902 shares during the period. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Adeia stock opened at $12.12 on Monday. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $1.32 billion, a P/E ratio of 33.67 and a beta of 1.44. The business has a 50-day moving average of $12.11 and a 200-day moving average of $11.72. Adeia has a 1 year low of $9.05 and a 1 year high of $14.24.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

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

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.