LSV Asset Management Has $48.13 Million Holdings in Adeia Inc. $ADEA

LSV Asset Management cut its stake in Adeia Inc. (NASDAQ:ADEA) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,790,114 shares of the company’s stock after selling 93,672 shares during the period. LSV Asset Management’s holdings in Adeia were worth $48,129,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc bought a new stake in Adeia during the 3rd quarter worth approximately $28,000. Quarry LP grew its position in Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the last quarter. Osaic Holdings Inc. grew its position in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Adeia during the 3rd quarter worth approximately $56,000. Finally, Global Retirement Partners LLC grew its position in Adeia by 18,917.1% during the 4th quarter. Global Retirement Partners LLC now owns 6,656 shares of the company’s stock worth $115,000 after acquiring an additional 6,621 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADEA. BWS Financial restated a “buy” rating and set a $30.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Roth Mkm restated a “buy” rating and set a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $33.60.

Adeia Price Performance

Shares of ADEA opened at $26.86 on Monday. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 24.87 and a beta of 1.48. The business’s fifty day moving average price is $27.07 and its two-hundred day moving average price is $20.34.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. On average, analysts predict that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.