Adeia Inc. $ADEA Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,477 shares of the company’s stock after buying an additional 55,368 shares during the period. Mackenzie Financial Corp’s holdings in Adeia were worth $3,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADEA. Natixis Advisors LLC grew its position in shares of Adeia by 72.2% during the first quarter. Natixis Advisors LLC now owns 37,167 shares of the company’s stock worth $491,000 after acquiring an additional 15,582 shares during the last quarter. Headlands Technologies LLC boosted its stake in Adeia by 117.0% during the 1st quarter. Headlands Technologies LLC now owns 39,177 shares of the company’s stock worth $518,000 after purchasing an additional 21,121 shares during the period. Invesco Ltd. grew its position in Adeia by 122.2% during the 1st quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock worth $12,709,000 after purchasing an additional 528,617 shares during the last quarter. Nuveen LLC acquired a new position in Adeia in the first quarter valued at $11,622,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of Adeia by 55.3% in the first quarter. Public Sector Pension Investment Board now owns 423,485 shares of the company’s stock valued at $5,598,000 after buying an additional 150,757 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADEA. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Adeia in a report on Tuesday, November 4th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a report on Monday. Finally, BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Adeia presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Adeia Trading Down 1.0%

Shares of ADEA opened at $12.44 on Friday. Adeia Inc. has a twelve month low of $10.59 and a twelve month high of $18.25. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $1.36 billion, a P/E ratio of 19.14 and a beta of 1.51. The firm’s 50-day moving average is $14.98 and its two-hundred day moving average is $14.52.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). The firm had revenue of $87.34 million for the quarter, compared to analysts’ expectations of $99.24 million. Adeia had a return on equity of 29.36% and a net margin of 19.32%. On average, research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 24th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $0.20 annualized dividend and a yield of 1.6%. Adeia’s dividend payout ratio is 30.77%.

Adeia 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.