Adeia Inc. (NASDAQ:ADEA) Short Interest Update

Adeia Inc. (NASDAQ:ADEA) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 3,310,000 shares, a growth of 10.7% from the July 31st total of 2,990,000 shares. Based on an average trading volume of 497,300 shares, the days-to-cover ratio is presently 6.7 days. Approximately 3.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a report on Thursday, August 8th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 target price on shares of Adeia in a research note on Thursday, June 20th.

Institutional Trading of Adeia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ADEA. Norges Bank purchased a new position in shares of Adeia during the fourth quarter valued at approximately $9,198,000. Wellington Management Group LLP grew its stake in shares of Adeia by 16.1% in the 4th quarter. Wellington Management Group LLP now owns 576,745 shares of the company’s stock worth $7,146,000 after acquiring an additional 80,146 shares in the last quarter. LSV Asset Management raised its holdings in shares of Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock valued at $36,746,000 after purchasing an additional 1,259,857 shares during the last quarter. Boston Partners raised its holdings in shares of Adeia by 16.5% in the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after purchasing an additional 325,342 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Adeia by 3.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock valued at $1,096,000 after purchasing an additional 3,793 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Price Performance

Shares of ADEA opened at $12.60 on Monday. The business’s fifty day moving average is $11.39 and its 200 day moving average is $11.16. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The stock has a market cap of $1.37 billion, a P/E ratio of 37.06 and a beta of 1.47.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to analyst estimates of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. Sell-side analysts anticipate that Adeia will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.59%. Adeia’s dividend payout ratio (DPR) is currently 58.82%.

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.