Rhumbline Advisers Grows Stock Position in Adeia Inc. (NASDAQ:ADEA)

Rhumbline Advisers grew its position in shares of Adeia Inc. (NASDAQ:ADEA) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 321,762 shares of the company’s stock after buying an additional 1,904 shares during the period. Rhumbline Advisers’ holdings in Adeia were worth $3,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Adeia in the 2nd quarter worth approximately $47,000. EMC Capital Management grew its position in shares of Adeia by 27.8% in the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares in the last quarter. Aristides Capital LLC purchased a new position in shares of Adeia in the first quarter valued at $213,000. O Shaughnessy Asset Management LLC raised its stake in shares of Adeia by 35.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after purchasing an additional 5,316 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Adeia during the 2nd quarter worth about $227,000. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

NASDAQ:ADEA opened at $12.26 on Wednesday. Adeia Inc. has a 52-week low of $8.11 and a 52-week high of $13.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 36.06 and a beta of 1.46. The stock has a fifty day moving average of $11.58 and a 200 day moving average of $11.18.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Adeia had a net margin of 12.87% and a return on equity of 33.28%. The business had revenue of $87.35 million during the quarter, compared to analyst estimates of $83.74 million. On average, research analysts expect that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.20 annualized dividend and a yield of 1.63%. Adeia’s dividend payout ratio (DPR) is presently 58.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BWS Financial reiterated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Thursday, August 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of Adeia in a report on Thursday, June 20th.

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.