State of Wyoming Has $535,000 Holdings in Adeia Inc. $ADEA

State of Wyoming cut its position in Adeia Inc. (NASDAQ:ADEA) by 38.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,026 shares of the company’s stock after selling 19,179 shares during the period. State of Wyoming’s holdings in Adeia were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its stake in shares of Adeia by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Adeia by 27.9% in the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Adeia by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after acquiring an additional 13,412 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Adeia by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after acquiring an additional 19,601 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Adeia by 19.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Trading Down 10.4%

ADEA opened at $28.98 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 26.83 and a beta of 1.40. The firm has a 50 day simple moving average of $28.13 and a 200 day simple moving average of $21.36. Adeia Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $34.34.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results 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. The business had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. On average, sell-side analysts anticipate that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on ADEA. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Roth Mkm reaffirmed a “buy” rating and issued a $43.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Maxim Group set a $35.00 target price on shares of Adeia in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, 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.