Skylands Capital LLC Sells 166,293 Shares of Adeia Inc. $ADEA

Skylands Capital LLC decreased its stake in Adeia Inc. (NASDAQ:ADEA) by 29.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 405,950 shares of the company’s stock after selling 166,293 shares during the quarter. Adeia accounts for about 1.3% of Skylands Capital LLC’s portfolio, making the stock its 22nd largest position. Skylands Capital LLC’s holdings in Adeia were worth $9,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its position in shares of Adeia by 447.0% during the 4th 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 during the period. Quarry LP raised its position in shares of Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares during the period. IFP Advisors Inc bought a new position in Adeia during the 3rd quarter worth approximately $28,000. Osaic Holdings Inc. boosted its stake in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Adeia by 148.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after purchasing an additional 1,781 shares during the period. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ADEA shares. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research cut shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. BWS Financial reaffirmed a “buy” rating and set a $30.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Adeia in a report on Tuesday, May 5th. Finally, Weiss Ratings cut Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Adeia Price Performance

NASDAQ ADEA opened at $30.82 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 28.54 and a beta of 1.40. The business has a 50 day simple moving average of $29.87 and a 200 day simple moving average of $23.36. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. Analysts anticipate that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio is currently 18.52%.

Adeia 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.