Intech Investment Management LLC Buys 151,061 Shares of Adeia Inc. $ADEA

Intech Investment Management LLC boosted its stake in Adeia Inc. (NASDAQ:ADEA) by 84.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 329,698 shares of the company’s stock after purchasing an additional 151,061 shares during the quarter. Intech Investment Management LLC’s holdings in Adeia were worth $5,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ADEA. Redmond Asset Management LLC increased its stake in Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after acquiring an additional 727 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Adeia by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock valued at $48,299,000 after acquiring an additional 19,601 shares in the last quarter. Clearstead Advisors LLC raised its holdings in shares of Adeia by 189.3% in the 4th quarter. Clearstead Advisors LLC now owns 4,487 shares of the company’s stock valued at $77,000 after acquiring an additional 2,936 shares in the last quarter. Hantz Financial Services Inc. raised 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 acquiring an additional 1,180 shares in the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after purchasing an additional 630,039 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

ADEA opened at $26.72 on Monday. The stock has a 50-day moving average price of $27.51 and a 200-day moving average price of $20.82. Adeia Inc. has a 12-month low of $11.61 and a 12-month high of $34.34. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $2.95 billion, a P/E ratio of 24.74 and a beta of 1.40.

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

Adeia Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BWS Financial reissued a “buy” rating and set a $30.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Rosenblatt Securities reissued a “buy” rating and set a $40.00 price objective 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 report on Saturday, May 9th. Roth Mkm reissued a “buy” rating and set a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Adeia currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Adeia Company 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.