Pacer Advisors Inc. Sells 547,862 Shares of Adeia Inc. $ADEA

Pacer Advisors Inc. decreased its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 97.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,079 shares of the company’s stock after selling 547,862 shares during the period. Pacer Advisors Inc.’s holdings in Adeia were worth $410,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ADEA. Hantz Financial Services Inc. lifted its holdings in shares of Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after buying an additional 1,180 shares in the last quarter. Quarry LP increased its holdings in Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in Adeia during the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. lifted its stake in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Adeia by 148.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after purchasing an additional 1,781 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ:ADEA opened at $27.72 on Wednesday. The company’s fifty day moving average price is $29.22 and its 200-day moving average price is $25.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 25.67 and a beta of 1.39. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Adeia had a net margin of 26.05% and a return on equity of 39.26%. The company had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. On average, equities research analysts anticipate that Adeia Inc. will post 1.17 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s payout ratio is 18.52%.

Analyst Ratings Changes

ADEA has been the subject of several analyst reports. BWS Financial reissued a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, August 4th. Maxim Group set a $35.00 price objective on Adeia in a research report on Wednesday, May 6th. Weiss Ratings lowered Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Zacks Research upgraded Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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.