Boston Partners Acquires 129,922 Shares of Adeia Inc. (NASDAQ:ADEA)

Boston Partners increased its holdings in Adeia Inc. (NASDAQ:ADEA) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,563,814 shares of the company’s stock after purchasing an additional 129,922 shares during the quarter. Boston Partners owned approximately 2.35% of Adeia worth $35,548,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Picton Mahoney Asset Management grew its stake in shares of Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after purchasing an additional 972 shares during the last quarter. Swiss National Bank grew its stake in shares of Adeia by 1.1% in the fourth quarter. Swiss National Bank now owns 214,246 shares of the company’s stock worth $2,995,000 after purchasing an additional 2,300 shares during the last quarter. KBC Group NV grew its stake in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Adeia by 20.6% in the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Zacks Investment Management grew its stake in shares of Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after purchasing an additional 5,902 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Adeia Stock Performance

Shares of ADEA opened at $13.87 on Thursday. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $1.49 billion, a P/E ratio of 24.33 and a beta of 1.44. The firm’s fifty day simple moving average is $13.91 and its two-hundred day simple moving average is $13.04. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. As a group, analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. Adeia’s dividend payout ratio is currently 35.09%.

Adeia Profile

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.