Sei Investments Co. Raises Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Sei Investments Co. boosted its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,961 shares of the company’s stock after acquiring an additional 4,531 shares during the quarter. Sei Investments Co.’s holdings in Adeia were worth $290,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Adeia during the second quarter valued at $47,000. EMC Capital Management increased its position in shares of Adeia by 27.8% during the first quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after acquiring an additional 2,360 shares during the period. Aristides Capital LLC bought a new stake in shares of Adeia during the first quarter valued at approximately $213,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Adeia by 35.1% in the first 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 bought a new position in Adeia in the second quarter worth approximately $227,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of NASDAQ:ADEA opened at $11.47 on Friday. The firm has a 50 day moving average of $11.70 and a 200 day moving average of $11.27. 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 company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 33.74 and a beta of 1.45. Adeia Inc. has a 52 week low of $8.11 and a 52 week high of $13.39.

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

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. Adeia’s payout ratio is 58.83%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADEA. BWS Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research note on Thursday, June 20th.

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.