176,665 Shares in Adeia Inc. (NASDAQ:ADEA) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in Adeia Inc. (NASDAQ:ADEA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 176,665 shares of the company’s stock, valued at approximately $2,470,000.

Several other large investors have also modified their holdings of the stock. KBC Group NV boosted its stake 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 purchasing an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in shares of Adeia during the 4th quarter valued at $142,000. Hohimer Wealth Management LLC acquired a new stake in Adeia during the third quarter valued at $190,000. 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 purchasing an additional 5,902 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Adeia during the 3rd quarter valued at about $253,000. 97.36% of the stock is owned by institutional investors.

Adeia Price Performance

NASDAQ:ADEA opened at $13.25 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The company has a fifty day moving average price of $14.03 and a 200 day moving average price of $13.14. The stock has a market cap of $1.42 billion, a P/E ratio of 23.25 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter last year, the company earned $0.27 EPS. Analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s payout ratio is 35.09%.

Wall Street Analyst Weigh In

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

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.