Adeia Inc. $ADEA Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 2,773,864 shares of the company’s stock after selling 43,090 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Adeia were worth $66,647,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ADEA. Tudor Investment Corp ET AL bought a new position in shares of Adeia during the 3rd quarter valued at about $3,259,000. Denali Advisors LLC bought a new stake in shares of Adeia in the 4th quarter valued at approximately $833,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Adeia by 20.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock worth $3,810,000 after buying an additional 37,749 shares during the period. Fifth Third Bancorp boosted its stake in shares of Adeia by 13,439.1% during the 1st quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock worth $1,347,000 after purchasing an additional 55,638 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of Adeia by 45.8% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company’s stock valued at $10,082,000 after buying an additional 183,670 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADEA. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Roth Capital reissued a “buy” rating and set a $43.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research lowered shares of Adeia from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Adeia Trading Up 4.9%

NASDAQ:ADEA opened at $26.65 on Friday. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $34.34. The firm has a 50 day moving average of $29.13 and a 200 day moving average of $25.48. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 24.68 and a beta of 1.36.

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

Adeia Announces Dividend

The company also recently announced 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 dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio is presently 18.52%.

About Adeia

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.