NewEdge Wealth LLC Increases Stock Holdings in Adeia Inc. $ADEA

NewEdge Wealth LLC raised its holdings in Adeia Inc. (NASDAQ:ADEA) by 36.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,878 shares of the company’s stock after buying an additional 22,027 shares during the quarter. NewEdge Wealth LLC’s holdings in Adeia were worth $1,992,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc acquired a new stake in Adeia in the 3rd quarter worth approximately $28,000. Quarry LP boosted its stake in Adeia by 245.5% in the 3rd 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. GHP Investment Advisors Inc. purchased a new stake in Adeia during the 1st quarter worth approximately $58,000. Finally, Osaic Holdings Inc. increased its stake in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADEA shares. BWS Financial reiterated a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities reissued a “buy” rating and issued 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 report on Monday, May 18th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

Adeia Stock Down 3.6%

ADEA stock opened at $25.95 on Friday. The firm’s fifty day simple moving average is $29.27 and its 200-day simple moving average is $25.23. The company has a market capitalization of $2.86 billion, a P/E ratio of 24.03 and a beta of 1.36. 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 12 month low of $11.61 and a 12 month high of $34.34.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $99.72 million. As a group, equities research analysts forecast that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

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.