Adeia Inc. $ADEA Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 12.4% during the third quarter, HoldingsChannel.com reports. The firm owned 488,103 shares of the company’s stock after purchasing an additional 53,900 shares during the period. Hillsdale Investment Management Inc.’s holdings in Adeia were worth $8,200,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Osaic Holdings Inc. raised its stake in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after buying an additional 2,309 shares during the period. CWM LLC grew its stake in Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after acquiring an additional 1,988 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Adeia in the 3rd quarter worth $56,000. Creative Planning purchased a new stake in Adeia in the 2nd quarter worth $144,000. Finally, Corient Private Wealth LLC acquired a new position in Adeia during the second quarter worth $146,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADEA has been the topic of several research analyst reports. Maxim Group lifted their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Rosenblatt Securities lifted their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. BWS Financial boosted their price objective on Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, December 29th. Finally, Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.00.

Adeia Stock Up 2.6%

Shares of NASDAQ ADEA opened at $19.01 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of 29.25 and a beta of 1.44. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. Adeia Inc. has a 12-month low of $10.59 and a 12-month high of $20.33. The company has a 50-day moving average of $17.81 and a 200 day moving average of $15.96.

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.