Stephens Inc. AR Cuts Holdings in Adeia Inc. $ADEA

Stephens Inc. AR decreased its holdings in Adeia Inc. (NASDAQ:ADEA) by 15.8% in the first quarter, HoldingsChannel.com reports. The firm owned 565,167 shares of the company’s stock after selling 106,442 shares during the quarter. Stephens Inc. AR’s holdings in Adeia were worth $13,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADEA. Wellington Management Group LLP lifted its stake in Adeia by 64.5% in the 4th quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock valued at $34,474,000 after buying an additional 783,869 shares in the last quarter. Systematic Financial Management LP increased its stake in shares of Adeia by 27.9% in the 4th quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after acquiring an additional 630,039 shares during the last quarter. Deutsche Bank AG raised its stake in Adeia by 386.1% during the fourth quarter. Deutsche Bank AG now owns 732,859 shares of the company’s stock worth $12,642,000 after purchasing an additional 582,106 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Adeia by 19.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock valued at $39,109,000 after buying an additional 448,274 shares during the period. Finally, CastleKnight Management LP acquired a new position in shares of Adeia in the 4th quarter valued at $6,074,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Stock Down 5.4%

ADEA stock traded down $1.59 during midday trading on Tuesday, hitting $27.74. The company’s stock had a trading volume of 314,541 shares, compared to its average volume of 1,540,312. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34. The firm has a market capitalization of $3.06 billion, a P/E ratio of 25.70 and a beta of 1.36. The firm has a 50-day simple moving average of $30.05 and a 200-day simple moving average of $24.19.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. As a group, equities analysts forecast that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio is presently 18.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and set a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. BWS Financial restated a “buy” rating and set a $30.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Zacks Research cut Adeia from a “hold” rating to a “strong sell” rating in a research note on Friday. Finally, Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.60.

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.