State Street Corp Raises Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

State Street Corp boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,346,537 shares of the company’s stock after buying an additional 91,288 shares during the quarter. State Street Corp owned 3.99% of Adeia worth $51,767,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Systematic Financial Management LP lifted its holdings in shares of Adeia by 17.0% in the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after acquiring an additional 313,741 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Adeia in the third quarter valued at approximately $8,412,000. Harvey Partners LLC lifted its stake in Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of Adeia by 49.5% during the third quarter. Martingale Asset Management L P now owns 56,321 shares of the company’s stock worth $671,000 after buying an additional 18,652 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adeia in the third quarter valued at $253,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of research analyst reports. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th. Rosenblatt Securities raised their price objective on shares of Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, December 12th.

Adeia Stock Performance

Shares of ADEA opened at $13.73 on Friday. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $14.75. The stock has a market capitalization of $1.50 billion, a PE ratio of 38.14 and a beta of 1.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a 50-day simple moving average of $12.63 and a 200-day simple moving average of $11.91.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s dividend payout ratio is presently 55.56%.

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.