JPMorgan Chase & Co. Lowers Stake in Adeia Inc. (NASDAQ:ADEA)

JPMorgan Chase & Co. cut its position in Adeia Inc. (NASDAQ:ADEA) by 0.4% in the third quarter, HoldingsChannel.com reports. The firm owned 828,795 shares of the company’s stock after selling 3,666 shares during the quarter. JPMorgan Chase & Co.’s holdings in Adeia were worth $9,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADEA. State Street Corp lifted its position in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after acquiring an additional 91,288 shares in the last quarter. Harvey Partners LLC grew its holdings in Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after buying an additional 168,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after buying an additional 159,254 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after buying an additional 78,135 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Adeia by 17.0% during the third 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. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADEA has been the topic of several research reports. Rosenblatt Securities lifted their target price on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Wednesday, December 4th.

Adeia Price Performance

Shares of Adeia stock opened at $12.69 on Tuesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 35.25 and a beta of 1.39. 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 moving average price of $13.10 and a 200-day moving average price of $12.22. Adeia Inc. has a one year low of $9.68 and a one year high of $14.75.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.05 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. Adeia’s dividend payout ratio (DPR) is 55.56%.

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.