Rhumbline Advisers Decreases Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Rhumbline Advisers lowered its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 311,135 shares of the company’s stock after selling 1,433 shares during the quarter. Rhumbline Advisers’ holdings in Adeia were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADEA. KBC Group NV increased its holdings in Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of Adeia during the 4th quarter valued at approximately $142,000. Franklin Resources Inc. boosted its position in shares of Adeia by 21.9% during the 3rd quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock valued at $1,185,000 after acquiring an additional 17,905 shares during the last quarter. Hohimer Wealth Management LLC bought a new stake in Adeia in the third quarter worth $190,000. Finally, Geode Capital Management LLC lifted its position in 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 during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of analyst reports. BWS Financial raised their price target on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “buy” rating and set a $20.00 price target on shares of Adeia in a research note on Friday. Finally, Maxim Group raised their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $15.72 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $1.69 billion, a PE ratio of 27.58 and a beta of 1.37. The business has a 50-day simple moving average of $13.75 and a two-hundred day simple moving average of $12.79. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. As a group, equities analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

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.