Louisiana State Employees Retirement System Buys Shares of 53,600 Adeia Inc. (NASDAQ:ADEA)

Louisiana State Employees Retirement System bought a new stake in Adeia Inc. (NASDAQ:ADEA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 53,600 shares of the company’s stock, valued at approximately $664,000. Louisiana State Employees Retirement System owned approximately 0.05% of Adeia as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Highlander Capital Management LLC grew its stake in Adeia by 267.3% during the 4th quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after buying an additional 1,518 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Adeia by 635.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the company’s stock worth $25,000 after buying an additional 2,028 shares during the last quarter. Carmel Capital Partners LLC bought a new position in Adeia during the 3rd quarter worth $33,000. Selway Asset Management bought a new position in Adeia during the 3rd quarter worth $36,000. Finally, EMC Capital Management grew its stake in Adeia by 2,732.0% during the 3rd quarter. EMC Capital Management now owns 8,496 shares of the company’s stock worth $91,000 after buying an additional 8,196 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADEA has been the subject of several recent analyst reports. Rosenblatt Securities started coverage on Adeia in a research note on Friday, February 23rd. They issued a “buy” rating and a $15.00 price target for the company. BWS Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Adeia in a research note on Friday, April 19th.

Adeia Trading Down 0.1 %

Shares of ADEA stock opened at $10.14 on Monday. The stock has a 50-day simple moving average of $10.84 and a 200 day simple moving average of $10.72. Adeia Inc. has a fifty-two week low of $7.12 and a fifty-two week high of $13.39. The stock has a market capitalization of $1.10 billion, a P/E ratio of 17.19 and a beta of 1.43. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The business had revenue of $86.87 million during the quarter, compared to the consensus estimate of $89.23 million. On average, sell-side analysts expect that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Monday, March 11th. Adeia’s dividend payout ratio is 33.90%.

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.