Adeia Inc. $ADEA Stake Lowered by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 1.1% during the third quarter, Holdings Channel reports. The firm owned 3,215,048 shares of the company’s stock after selling 36,767 shares during the period. Neuberger Berman Group LLC’s holdings in Adeia were worth $54,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CWM LLC boosted its position in Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after purchasing an additional 1,988 shares during the period. Osaic Holdings Inc. increased its position 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 buying an additional 2,309 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Adeia in the third quarter worth $56,000. Creative Planning bought a new stake in Adeia in the second quarter valued at $144,000. Finally, Corient Private Wealth LLC bought a new stake in Adeia in the second quarter valued at $146,000. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADEA. Roth Mkm restated a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. UBS Group set a $20.00 price objective on shares of Adeia in a research report on Tuesday, December 23rd. Rosenblatt Securities boosted their target price on shares of Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. BWS Financial upped their target price on shares of Adeia from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Adeia has an average rating of “Moderate Buy” and an average target price of $25.20.

Adeia Stock Down 5.4%

Shares of Adeia stock opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $21.07. The business’s fifty day moving average price is $18.86 and its two-hundred day moving average price is $16.37. The company has a market capitalization of $2.17 billion, a P/E ratio of 20.28 and a beta of 1.41.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $182.64 million during the quarter, compared to analysts’ expectations of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. As a group, research analysts forecast that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 1.0%. Adeia’s dividend 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.