Susquehanna Fundamental Investments LLC Boosts Holdings in Adeia Inc. $ADEA

Susquehanna Fundamental Investments LLC boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 31.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 154,448 shares of the company’s stock after purchasing an additional 36,677 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Adeia were worth $5,086,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in Adeia in the 2nd quarter worth approximately $573,267,000. The Manufacturers Life Insurance Company purchased a new position in shares of Adeia during the 2nd quarter valued at approximately $46,004,000. Deutsche Bank AG acquired a new position in shares of Adeia in the 2nd quarter valued at $34,520,000. Bank of New York Mellon Corp acquired a new position in shares of Adeia in the 2nd quarter valued at $34,425,000. Finally, Wellington Management Group LLP boosted its holdings in Adeia by 64.5% during the fourth quarter. Wellington Management Group LLP now owns 1,998,488 shares of the company’s stock worth $34,474,000 after buying an additional 783,869 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ ADEA opened at $25.23 on Tuesday. The stock’s fifty day moving average is $28.02 and its two-hundred day moving average is $26.85. The firm has a market capitalization of $2.78 billion, a P/E ratio of 23.36 and a beta of 1.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. Adeia Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $34.34.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The business had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. On average, research analysts anticipate that Adeia Inc. will post 1.17 earnings per share for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Analysts Set New Price Targets

ADEA has been the topic of several analyst reports. BWS Financial raised their price target on shares of Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Roth Capital reaffirmed a “buy” rating and set a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Finally, Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Adeia presently has an average rating of “Moderate Buy” and an average price target of $37.60.

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.