Investors Research Corp Lowers Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Investors Research Corp decreased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 90.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,941 shares of the company’s stock after selling 17,933 shares during the period. Investors Research Corp’s holdings in Adeia were worth $27,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ADEA. KBC Group NV grew its stake in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after buying an additional 2,977 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after buying an additional 3,900 shares during the last quarter. Zacks Investment Management grew its stake in shares of Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after buying an additional 5,902 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Adeia by 5.3% during the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after buying an additional 6,700 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC bought a new position in shares of Adeia during the fourth quarter valued at about $142,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Down 5.5 %

NASDAQ ADEA opened at $14.12 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a market capitalization of $1.52 billion, a PE ratio of 24.77 and a beta of 1.44. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $17.46. The business’s 50-day moving average is $13.92 and its 200 day moving average is $12.97.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. During the same period last year, the business posted $0.27 earnings per share. Sell-side analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.42%. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

Analyst Ratings Changes

ADEA has been the topic of a number of recent research reports. BWS Financial raised their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Maxim Group raised their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Adeia in a research note on Friday, February 28th.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.