Victory Capital Management Inc. Trims Stake in Adeia Inc. (NASDAQ:ADEA)

Victory Capital Management Inc. lessened its holdings in Adeia Inc. (NASDAQ:ADEA) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,393 shares of the company’s stock after selling 1,781 shares during the period. Victory Capital Management Inc.’s holdings in Adeia were worth $1,865,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Royce & Associates LP raised its holdings in shares of Adeia by 22.2% in the 3rd quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after acquiring an additional 50,512 shares in the last quarter. Empowered Funds LLC increased its position in shares of Adeia by 5.3% in the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after purchasing an additional 6,700 shares during the last quarter. Seizert Capital Partners LLC purchased a new stake in Adeia in the third quarter valued at approximately $197,000. Quest Partners LLC lifted its position in Adeia by 76,084.3% during the third quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock valued at $463,000 after purchasing an additional 38,803 shares during the last quarter. Finally, Intech Investment Management LLC grew its stake in Adeia by 320.5% in 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 in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 1.6 %

Shares of ADEA opened at $13.89 on Tuesday. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 24.37 and a beta of 1.44. The firm has a 50 day moving average price of $13.91 and a 200-day moving average price of $13.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

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

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio is presently 35.09%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ADEA shares. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th. Maxim Group raised their price target on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, BWS Financial upped their price objective on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

About Adeia

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.