35,406 Shares in Adeia Inc. $ADEA Purchased by K2 Principal Fund L.P.

K2 Principal Fund L.P. acquired a new stake in Adeia Inc. (NASDAQ:ADEA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,406 shares of the company’s stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc purchased a new stake in Adeia during the 3rd quarter worth about $28,000. Quarry LP increased its stake in Adeia by 245.5% in the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the last quarter. GHP Investment Advisors Inc. acquired a new stake in Adeia during the 1st quarter worth $58,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on ADEA shares. Roth Capital restated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Maxim Group set a $35.00 price target on shares of Adeia in a report on Wednesday, May 6th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Adeia currently has an average rating of “Moderate Buy” and an average target price of $37.60.

Adeia Trading Down 5.6%

Shares of ADEA opened at $28.02 on Wednesday. The stock has a market cap of $3.09 billion, a PE ratio of 25.94 and a beta of 1.39. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The stock’s 50-day moving average is $29.00 and its two-hundred day moving average is $26.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

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

Adeia Announces Dividend

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

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.