Voya Investment Management LLC Has $589,000 Stock Position in Adeia Inc. $ADEA

Voya Investment Management LLC lowered its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 13.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 44,583 shares of the company’s stock after selling 6,848 shares during the period. Voya Investment Management LLC’s holdings in Adeia were worth $589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Global Investments grew its position in Adeia by 1.9% during the 1st quarter. Summit Global Investments now owns 50,475 shares of the company’s stock worth $667,000 after acquiring an additional 931 shares during the last quarter. Kendall Capital Management grew its position in Adeia by 3.1% during the 1st quarter. Kendall Capital Management now owns 34,401 shares of the company’s stock worth $455,000 after acquiring an additional 1,050 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Adeia by 14.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock worth $113,000 after acquiring an additional 1,062 shares during the last quarter. Carmel Capital Partners LLC grew its position in Adeia by 9.9% during the 1st quarter. Carmel Capital Partners LLC now owns 12,904 shares of the company’s stock worth $171,000 after acquiring an additional 1,161 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Adeia by 80.9% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock worth $48,000 after acquiring an additional 1,611 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ADEA. BWS Financial restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Wednesday, August 6th. Zacks Research upgraded Adeia to a “strong-buy” rating in a research report on Friday, August 8th. Roth Capital began coverage on Adeia in a research report on Friday, June 20th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $19.50.

Adeia Trading Down 1.1%

NASDAQ ADEA opened at $16.66 on Friday. The business’s 50-day moving average price is $14.79 and its two-hundred day moving average price is $13.78. Adeia Inc. has a 12 month low of $10.59 and a 12 month high of $17.46. The firm has a market capitalization of $1.82 billion, a PE ratio of 22.51 and a beta of 1.74. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, August 26th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, August 26th. Adeia’s payout ratio is 27.03%.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.