Hillsdale Investment Management Inc. Purchases 101,670 Shares of Adeia Inc. $ADEA

Hillsdale Investment Management Inc. grew its holdings in Adeia Inc. (NASDAQ:ADEA) by 30.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 434,203 shares of the company’s stock after purchasing an additional 101,670 shares during the period. Hillsdale Investment Management Inc. owned about 0.40% of Adeia worth $6,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Quarry LP bought a new stake in Adeia in the 1st quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Adeia during the 1st quarter valued at about $43,000. Brooklyn Investment Group bought a new stake in shares of Adeia in the first quarter worth approximately $44,000. GAMMA Investing LLC grew its stake in shares of Adeia by 85.4% in the second quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock worth $94,000 after acquiring an additional 3,078 shares during the period. Finally, Creative Planning purchased a new position in shares of Adeia during the second quarter valued at approximately $144,000. 97.36% of the stock is owned by institutional investors.

Adeia Price Performance

Shares of Adeia stock opened at $11.74 on Friday. The stock has a market cap of $1.29 billion, a P/E ratio of 15.86 and a beta of 1.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. The stock’s fifty day moving average is $15.77 and its 200 day moving average is $14.60. Adeia Inc. has a one year low of $10.59 and a one year high of $18.25.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Adeia had a return on equity of 30.31% and a net margin of 22.15%.The company had revenue of $87.34 million during the quarter, compared to analysts’ expectations of $99.24 million. Adeia has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 24th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, November 24th. Adeia’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and issued a $17.00 target price on shares of Adeia in a report on Tuesday, November 4th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. BWS Financial reissued a “buy” rating and issued a $18.00 target price on shares of Adeia in a research report on Tuesday, November 4th. Finally, Roth Capital restated a “buy” rating on shares of Adeia in a research note on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Adeia has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Adeia Company Profile

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.