Allspring Global Investments Holdings LLC Takes Position in Adeia Inc. $ADEA

Allspring Global Investments Holdings LLC acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 134,103 shares of the company’s stock, valued at approximately $3,362,000.

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Adeia by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock worth $855,000 after purchasing an additional 2,829 shares during the last quarter. Caxton Associates LLP purchased a new position in Adeia during the first quarter worth $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Adeia by 22.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after acquiring an additional 42,918 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Adeia by 1,193.2% in the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after acquiring an additional 321,976 shares during the last quarter. Finally, Focus Partners Wealth purchased a new stake in shares of Adeia in the first quarter valued at $167,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. BWS Financial reissued a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Stock Performance

Shares of ADEA stock opened at $25.95 on Friday. The company’s fifty day simple moving average is $29.27 and its 200-day simple moving average is $25.23. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. The company has a market cap of $2.86 billion, a PE ratio of 24.03 and a beta of 1.36.

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

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

About Adeia

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.