Adeia Inc. $ADEA Stake Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 31.2% during the first quarter, Holdings Channel.com reports. The fund owned 177,080 shares of the company’s stock after selling 80,361 shares during the period. Assenagon Asset Management S.A.’s holdings in Adeia were worth $4,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the period. Quarry LP increased its position in shares of Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in shares of Adeia in the 3rd quarter worth $28,000. Osaic Holdings Inc. raised its stake in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after buying an additional 2,309 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after buying an additional 1,781 shares during the period. Institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a report 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 price objective on shares of Adeia in a research report on Wednesday, May 6th. Roth Mkm reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Adeia Trading Up 7.1%

Adeia stock opened at $33.00 on Tuesday. The company has a 50 day moving average price of $29.97 and a 200 day moving average price of $23.58. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 30.56 and a beta of 1.40.

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

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio 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.