Neuberger Berman Group LLC Sells 8,311 Shares of Adeia Inc. (NASDAQ:ADEA)

Neuberger Berman Group LLC lessened its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,307,099 shares of the company’s stock after selling 8,311 shares during the quarter. Neuberger Berman Group LLC owned approximately 3.03% of Adeia worth $46,207,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management raised its stake in Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after acquiring an additional 972 shares during the last quarter. KBC Group NV raised its stake in shares of Adeia by 74.6% during the 4th 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. Linden Thomas Advisory Services LLC purchased a new position in shares of Adeia in the 4th quarter valued at about $142,000. Cibc World Markets Corp purchased a new position in shares of Adeia in the 4th quarter valued at about $142,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Adeia in the 4th quarter valued at about $168,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADEA shares. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Rosenblatt Securities restated a “buy” rating and set a $20.00 target price on shares of Adeia in a report on Friday, February 28th. Finally, BWS Financial upped their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Adeia Trading Up 10.4 %

ADEA opened at $12.55 on Thursday. The stock has a market capitalization of $1.36 billion, a PE ratio of 22.02 and a beta of 1.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The business’s 50 day moving average price is $13.86 and its 200 day moving average price is $13.14.

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

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.59%. Adeia’s dividend payout ratio (DPR) is 35.09%.

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.