Adeia Inc. $ADEA Shares Purchased by Kennedy Capital Management LLC

Kennedy Capital Management LLC grew its position in Adeia Inc. (NASDAQ:ADEA) by 32.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 527,981 shares of the company’s stock after acquiring an additional 130,810 shares during the quarter. Kennedy Capital Management LLC owned about 0.48% of Adeia worth $9,108,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Marshall Wace LLP boosted its holdings in shares of Adeia by 166.3% in the fourth quarter. Marshall Wace LLP now owns 90,911 shares of the company’s stock valued at $1,568,000 after acquiring an additional 56,772 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Adeia by 2.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,436,796 shares of the company’s stock valued at $42,035,000 after acquiring an additional 56,908 shares during the period. First Trust Advisors LP boosted its holdings in shares of Adeia by 111.8% in the fourth quarter. First Trust Advisors LP now owns 394,659 shares of the company’s stock valued at $6,808,000 after acquiring an additional 208,361 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adeia by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,038,745 shares of the company’s stock valued at $17,918,000 after acquiring an additional 3,599 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Adeia by 3.2% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 31,066 shares of the company’s stock valued at $536,000 after acquiring an additional 971 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Price Performance

Adeia stock opened at $31.92 on Monday. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The business has a 50 day simple moving average of $28.86 and a 200-day simple moving average of $22.11. The stock has a market capitalization of $3.52 billion, a PE ratio of 29.56 and a beta of 1.40.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Equities analysts predict that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio is 18.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. BWS Financial reissued a “buy” rating and issued a $30.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Adeia presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.