Lazard Asset Management LLC Boosts Stake in Adeia Inc. $ADEA

Lazard Asset Management LLC lifted its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 7.7% during the first quarter, HoldingsChannel.com reports. The fund owned 335,825 shares of the company’s stock after purchasing an additional 23,962 shares during the quarter. Lazard Asset Management LLC’s holdings in Adeia were worth $8,070,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ritholtz Wealth Management grew its holdings in Adeia by 2.5% during the first quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock worth $360,000 after acquiring an additional 364 shares during the period. ProShare Advisors LLC lifted its holdings in Adeia by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after acquiring an additional 656 shares during the period. Redmond Asset Management LLC lifted its holdings in Adeia by 0.4% in the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after acquiring an additional 727 shares during the period. Amundi boosted its position in shares of Adeia by 4.5% during the 4th quarter. Amundi now owns 19,003 shares of the company’s stock worth $328,000 after purchasing an additional 827 shares in the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Adeia by 2.6% during the 2nd quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after purchasing an additional 937 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ ADEA opened at $25.40 on Friday. The business’s 50-day moving average price is $29.13 and its 200 day moving average price is $25.47. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. Adeia Inc. has a twelve month low of $11.61 and a twelve month high of $34.34. The company has a market capitalization of $2.80 billion, a PE ratio of 23.52 and a beta of 1.36.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. On average, research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is 18.52%.

Analyst Ratings Changes

ADEA has been the subject of a number of research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Maxim Group set a $35.00 price target on Adeia in a research note on Wednesday, May 6th. Zacks Research cut Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. BWS Financial reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.60.

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.