Louisiana State Employees Retirement System Makes New $1.17 Million Investment in Adeia Inc. $ADEA

Louisiana State Employees Retirement System bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 48,600 shares of the company’s stock, valued at approximately $1,168,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hantz Financial Services Inc. boosted 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 buying an additional 1,180 shares during the period. Quarry LP raised its stake in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the period. IFP Advisors Inc acquired a new stake in Adeia during the third quarter worth about $28,000. Osaic Holdings Inc. lifted its holdings in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after acquiring an additional 1,781 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

Adeia stock opened at $29.19 on Friday. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $30.06 and a two-hundred day moving average price of $24.00. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 27.03 and a beta of 1.36. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34.

Adeia (NASDAQ:ADEA) last posted its earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.36 by $0.02. Adeia had a net margin of 26.50% and a return on equity of 39.49%. The firm had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Sell-side analysts expect that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio is 18.52%.

Wall Street Analysts Forecast Growth

ADEA has been the subject of several recent research reports. Zacks Research lowered Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. BWS Financial reissued a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded 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 target price on Adeia in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

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.