Adeia Inc. $ADEA Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. raised its position in Adeia Inc. (NASDAQ:ADEA) by 5.9% during the fourth quarter, HoldingsChannel reports. The firm owned 564,941 shares of the company’s stock after buying an additional 31,355 shares during the quarter. Pacer Advisors Inc.’s holdings in Adeia were worth $9,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Hantz Financial Services Inc. raised its holdings in shares of Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after purchasing an additional 1,180 shares in the last quarter. Quarry LP grew its stake in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after purchasing an additional 1,127 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Adeia during the third quarter worth $28,000. Osaic Holdings Inc. increased its holdings in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after buying an additional 2,309 shares during the last quarter. Finally, Clearstead Advisors LLC increased its holdings in Adeia by 189.3% in the fourth quarter. Clearstead Advisors LLC now owns 4,487 shares of the company’s stock valued at $77,000 after buying an additional 2,936 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $31.81 on Monday. The stock has a market cap of $3.51 billion, a P/E ratio of 29.45 and a beta of 1.40. The firm has a fifty day moving average price of $29.50 and a 200 day moving average price of $22.80. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34.

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

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BWS Financial reaffirmed a “buy” rating and set a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

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.