Moors & Cabot Inc. Decreases Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Moors & Cabot Inc. decreased its position in Adeia Inc. (NASDAQ:ADEA) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,450 shares of the company’s stock after selling 1,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Adeia were worth $230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jane Street Group LLC increased its position in shares of Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock valued at $2,380,000 after buying an additional 79,565 shares during the period. Handelsbanken Fonder AB increased its position in shares of Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after buying an additional 3,900 shares during the period. Harvey Partners LLC increased its position in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after buying an additional 168,000 shares during the period. Barclays PLC increased its position in shares of Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock valued at $2,728,000 after buying an additional 78,276 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Adeia by 3.1% during the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after buying an additional 78,135 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADEA shares. BWS Financial boosted their price target on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Maxim Group boosted their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 price objective on shares of Adeia in a research note on Friday, February 28th.

Adeia Trading Down 0.5 %

NASDAQ:ADEA opened at $13.67 on Monday. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The company’s 50-day simple moving average is $13.92 and its 200 day simple moving average is $13.02. The firm has a market capitalization of $1.47 billion, a P/E ratio of 23.98 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The business had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. As a group, analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.46%. Adeia’s dividend payout ratio is presently 35.09%.

Adeia Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.