Pacer Advisors Inc. Grows Holdings in Adeia Inc. $ADEA

Pacer Advisors Inc. lifted its stake in Adeia Inc. (NASDAQ:ADEA) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 564,941 shares of the company’s stock after acquiring an additional 31,355 shares during the quarter. Pacer Advisors Inc. owned 0.52% of Adeia worth $9,745,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Adeia by 29.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after purchasing an additional 57,878 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Adeia by 39.4% in the third 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 in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Adeia in the third quarter valued at $3,259,000. Denali Advisors LLC purchased a new stake in shares of Adeia in the 4th quarter valued at $833,000. Finally, NewEdge Wealth LLC purchased a new stake in shares of Adeia in the 3rd quarter valued at $902,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Adeia stock opened at $31.81 on Monday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 29.45 and a beta of 1.40. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. Adeia Inc. has a twelve month low of $11.61 and a twelve month high of $34.34. The stock’s fifty day simple moving average is $29.50 and its 200-day simple moving average is $22.80.

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

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Finally, Roth Mkm reissued a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.