Intech Investment Management LLC Acquires 151,061 Shares of Adeia Inc. $ADEA

Intech Investment Management LLC increased its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 84.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 329,698 shares of the company’s stock after acquiring an additional 151,061 shares during the quarter. Intech Investment Management LLC owned approximately 0.30% of Adeia worth $5,687,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ADEA. Systematic Financial Management LP lifted its holdings in Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after buying an additional 448,274 shares during the period. Jane Street Group LLC raised its stake 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 valued at $4,613,000 after buying an additional 321,976 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Adeia by 39.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock valued at $17,632,000 after buying an additional 296,742 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Adeia during the 3rd quarter valued at $3,342,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Performance

NASDAQ:ADEA opened at $26.72 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 24.74 and a beta of 1.40. The business’s fifty day moving average is $27.51 and its 200 day moving average is $20.82.

Adeia (NASDAQ:ADEA) last issued its 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 the consensus estimate of $99.72 million. Research analysts predict that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BWS Financial reaffirmed a “buy” rating and set a $30.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Roth Mkm reaffirmed a “buy” rating and set a $43.00 price target 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.