Jupiter Topco LLC Takes Position in Adeia Inc. $ADEA

Jupiter Topco LLC bought a new position in Adeia Inc. (NASDAQ:ADEA) in the second quarter, HoldingsChannel reports. The firm bought 503,425 shares of the company’s stock, valued at approximately $16,578,000.

Other large investors have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Adeia during the 2nd quarter valued at $8,705,000. The Manufacturers Life Insurance Company purchased a new position in Adeia during the second quarter worth $46,004,000. Kendall Capital Management bought a new position in Adeia during the second quarter valued at $979,000. Northwestern Mutual Wealth Management Co. bought a new position in Adeia during the second quarter valued at $117,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Adeia in the second quarter valued at $1,700,000. Institutional investors own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ADEA shares. Zacks Research upgraded shares of Adeia from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Roth Capital reissued a “buy” rating and issued a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. BWS Financial raised their price objective on shares of Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Maxim Group set a $35.00 target price on Adeia in a research note on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.60.

Adeia Trading Down 1.9%

ADEA stock opened at $25.72 on Friday. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The firm’s 50-day moving average is $28.15 and its 200 day moving average is $26.76. The company has a market capitalization of $2.84 billion, a PE ratio of 23.81 and a beta of 1.39. 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 released 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 analysts’ expectations of $96.79 million. Adeia had a net margin of 26.05% and a return on equity of 39.26%. On average, research analysts anticipate that Adeia Inc. will post 1.17 EPS for the current year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, August 24th. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Adeia 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.