LSV Asset Management Reduces Position in Adeia Inc. $ADEA

LSV Asset Management trimmed its holdings in Adeia Inc. (NASDAQ:ADEA) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,976,494 shares of the company’s stock after selling 92,700 shares during the quarter. LSV Asset Management owned approximately 2.74% of Adeia worth $42,088,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADEA. The Manufacturers Life Insurance Company grew its position in Adeia by 6.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,317,585 shares of the company’s stock valued at $30,638,000 after acquiring an additional 147,971 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Adeia by 11.0% during the first quarter. Wellington Management Group LLP now owns 1,229,245 shares of the company’s stock valued at $16,251,000 after acquiring an additional 121,424 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Adeia by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 1,074,075 shares of the company’s stock valued at $15,187,000 after purchasing an additional 6,653 shares during the period. Invesco Ltd. grew its stake in Adeia by 122.2% in the first quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock worth $12,709,000 after purchasing an additional 528,617 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Adeia during the 1st quarter worth $11,622,000. 97.36% of the stock is owned by institutional investors.

Adeia Stock Down 0.5%

Shares of Adeia stock opened at $12.35 on Wednesday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.35 billion, a P/E ratio of 16.69 and a beta of 1.78. The firm’s 50 day moving average price is $15.91 and its 200-day moving average price is $14.64. Adeia Inc. has a 52-week low of $10.59 and a 52-week high of $18.25.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm 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, sell-side analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 24th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, November 24th. Adeia’s dividend payout ratio is currently 30.77%.

Analysts Set New Price Targets

ADEA has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 target price on shares of Adeia in a report on Tuesday, November 4th. Roth Capital restated a “buy” rating on shares of Adeia in a report on Monday, November 3rd. Zacks Research cut shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a research report on Thursday, November 13th. Finally, BWS Financial reiterated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research note on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

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.