Dynamic Technology Lab Private Ltd Buys New Shares in Adeia Inc. (NASDAQ:ADEA)

Dynamic Technology Lab Private Ltd purchased a new stake in Adeia Inc. (NASDAQ:ADEA) during the third quarter, HoldingsChannel.com reports. The firm purchased 21,239 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors also recently made changes to their positions in ADEA. Price T Rowe Associates Inc. MD raised its holdings in shares of Adeia by 3.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after purchasing an additional 3,793 shares during the period. Comerica Bank lifted its position in Adeia by 42.2% during the first quarter. Comerica Bank now owns 72,306 shares of the company’s stock valued at $790,000 after buying an additional 21,454 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Adeia during the second quarter worth approximately $227,000. Wedge Capital Management L L P NC increased its position in shares of Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after acquiring an additional 875 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Adeia by 2.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock valued at $611,000 after acquiring an additional 1,500 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADEA. BWS Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Monday, November 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Adeia in a research report on Friday, November 8th.

Adeia Trading Up 0.7 %

ADEA opened at $12.12 on Monday. The firm’s 50 day moving average is $12.11 and its 200-day moving average is $11.72. The firm has a market capitalization of $1.32 billion, a P/E ratio of 33.67 and a beta of 1.44. Adeia Inc. has a 52-week low of $9.05 and a 52-week high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. Adeia’s payout ratio is currently 55.56%.

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.