JPMorgan Chase & Co. Has $17.63 Million Position in Adeia Inc. $ADEA

JPMorgan Chase & Co. boosted its holdings in Adeia Inc. (NASDAQ:ADEA) by 39.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,049,528 shares of the company’s stock after acquiring an additional 296,742 shares during the quarter. JPMorgan Chase & Co. owned 0.96% of Adeia worth $17,632,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Adeia in the 3rd quarter valued at approximately $3,353,000. Cresset Asset Management LLC bought a new position in shares of Adeia during the 2nd quarter worth approximately $1,874,000. Public Sector Pension Investment Board lifted its position in shares of Adeia by 15.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after buying an additional 68,745 shares during the period. NewEdge Wealth LLC acquired a new stake in Adeia in the 3rd quarter valued at $902,000. Finally, Skylands Capital LLC boosted its stake in Adeia by 17.5% in the 3rd quarter. Skylands Capital LLC now owns 497,300 shares of the company’s stock valued at $8,355,000 after buying an additional 74,076 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analysts Set New Price Targets

ADEA has been the subject of several recent analyst reports. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Maxim Group upped their target price on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Rosenblatt Securities increased their target price on shares of Adeia to $40.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.80.

Adeia Price Performance

Shares of ADEA stock opened at $25.22 on Thursday. Adeia Inc. has a 1 year low of $10.59 and a 1 year high of $26.09. The company has a current ratio of 3.81, a quick ratio of 3.81 and a debt-to-equity ratio of 0.83. The firm’s 50 day moving average is $20.27 and its 200-day moving average is $17.13. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 25.73 and a beta of 1.41.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The business had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. Sell-side analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s payout ratio is presently 20.41%.

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.