Adeia Inc. $ADEA Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in shares of Adeia Inc. (NASDAQ:ADEA) by 75.8% in the second quarter, Holdings Channel reports. The institutional investor owned 41,283 shares of the company’s stock after buying an additional 17,796 shares during the period. Teacher Retirement System of Texas’ holdings in Adeia were worth $584,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Adeia by 6.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company’s stock worth $30,638,000 after purchasing an additional 147,971 shares during the period. Wellington Management Group LLP increased its stake in shares of Adeia by 11.0% during the 1st quarter. Wellington Management Group LLP now owns 1,229,245 shares of the company’s stock worth $16,251,000 after purchasing an additional 121,424 shares in the last quarter. Invesco Ltd. increased its position in Adeia by 122.2% during the first quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock worth $12,709,000 after buying an additional 528,617 shares in the last quarter. Nuveen LLC acquired a new position in Adeia in the 1st quarter valued at about $11,622,000. Finally, Stephens Inc. AR raised its position in shares of Adeia by 3.8% in the second quarter. Stephens Inc. AR now owns 620,938 shares of the company’s stock valued at $8,780,000 after buying an additional 22,954 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Roth Capital restated a “buy” rating on shares of Adeia in a research note on Monday, November 3rd. BWS Financial restated a “buy” rating and issued a $18.00 price target on shares of Adeia in a report on Tuesday, November 4th. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Adeia in a report on Wednesday, October 8th. Finally, Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Adeia has an average rating of “Moderate Buy” and an average target price of $19.50.

Adeia Stock Performance

ADEA opened at $13.89 on Friday. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $16.19 and its 200-day moving average is $14.58. The stock has a market cap of $1.52 billion, a PE ratio of 18.77 and a beta of 1.78. Adeia Inc. has a twelve month low of $10.59 and a twelve month high of $18.25.

Adeia (NASDAQ:ADEA) last posted its earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The business had revenue of $87.34 million during the quarter, compared to analyst estimates of $99.24 million. Adeia had a net margin of 22.15% and a return on equity of 30.31%. Adeia has set its FY 2025 guidance at EPS. On average, analysts predict 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, December 15th. Investors of record on Monday, November 24th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 24th. Adeia’s payout ratio is currently 30.77%.

Adeia Company 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.