Systematic Financial Management LP Acquires 116,087 Shares of Adeia Inc. (NASDAQ:ADEA)

Systematic Financial Management LP boosted its holdings in Adeia Inc. (NASDAQ:ADEA) by 5.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,276,288 shares of the company’s stock after acquiring an additional 116,087 shares during the period. Systematic Financial Management LP’s holdings in Adeia were worth $31,822,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Adeia in the fourth quarter worth about $33,000. Picton Mahoney Asset Management boosted its stake in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after buying an additional 972 shares during the last quarter. KBC Group NV lifted its stake in shares of Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after purchasing an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Adeia in the 4th quarter valued at $142,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Adeia in the 4th quarter valued at $142,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $13.58 on Friday. 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 company has a fifty day moving average price of $12.85 and a 200 day moving average price of $13.25. The firm has a market cap of $1.47 billion, a PE ratio of 23.82 and a beta of 1.57. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter last year, the business posted $0.27 earnings per share. Research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, May 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, May 27th. Adeia’s payout ratio is currently 30.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADEA shares. Maxim Group raised their price target on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. BWS Financial reissued a “buy” rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th.

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.