State of Wyoming Acquires New Position in Adeia Inc. $ADEA

State of Wyoming acquired a new stake in Adeia Inc. (NASDAQ:ADEA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,060 shares of the company’s stock, valued at approximately $1,550,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Adeia by 64.5% in the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock valued at $34,474,000 after buying an additional 783,869 shares during the period. Systematic Financial Management LP grew its holdings in Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the period. Deutsche Bank AG grew its holdings in Adeia by 386.1% during the fourth quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after acquiring an additional 582,106 shares during the period. The Manufacturers Life Insurance Company raised its position in Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Adeia by 948.3% in the first quarter. Janus Henderson Group PLC now owns 473,438 shares of the company’s stock worth $11,378,000 after acquiring an additional 428,275 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Up 4.0%

ADEA opened at $29.83 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 27.62 and a beta of 1.39. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34. The business’s fifty day moving average is $29.08 and its two-hundred day moving average is $26.14.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. Analysts anticipate that Adeia Inc. will post 1.17 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 24th. Adeia’s dividend payout ratio is presently 18.52%.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several research analyst reports. Roth Capital restated a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research upgraded shares of Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th. BWS Financial boosted their price objective on shares of Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Adeia currently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

Adeia Company Profile

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.