Meritage Portfolio Management Sells 37,926 Shares of Adeia Inc. $ADEA

Meritage Portfolio Management decreased its position in Adeia Inc. (NASDAQ:ADEA) by 31.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,482 shares of the company’s stock after selling 37,926 shares during the period. Meritage Portfolio Management owned about 0.08% of Adeia worth $1,402,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Osaic Holdings Inc. lifted its position in shares of 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 buying an additional 2,309 shares during the last quarter. CWM LLC raised 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. GAMMA Investing LLC lifted its holdings in Adeia by 85.4% during the second quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock valued at $94,000 after purchasing an additional 3,078 shares during the last quarter. Creative Planning purchased a new stake in Adeia during the second quarter valued at about $144,000. Finally, Corient Private Wealth LLC bought a new position in Adeia during the second quarter worth about $146,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ADEA. Rosenblatt Securities boosted their price target on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. UBS Group set a $20.00 target price on Adeia in a research report on Tuesday, December 23rd. Roth Capital reaffirmed a “buy” rating on shares of Adeia in a report on Monday, December 22nd. BWS Financial lifted their price target on Adeia from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, December 29th. Finally, Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat, Adeia currently has a consensus rating of “Buy” and an average price target of $22.00.

Adeia Stock Up 1.1%

ADEA opened at $19.17 on Friday. The firm has a market capitalization of $2.10 billion, a P/E ratio of 29.49 and a beta of 1.46. Adeia Inc. has a one year low of $10.59 and a one year high of $19.57. The company has a fifty day moving average price of $14.72 and a 200-day moving average price of $15.09. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.72 and a quick ratio of 3.72.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). Adeia had a net margin of 19.32% and a return on equity of 29.36%. The business had revenue of $87.34 million for the quarter, compared to the consensus estimate of $99.24 million. Equities research analysts expect that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, November 24th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.0%. Adeia’s payout ratio is presently 30.77%.

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.