Adeia Inc. $ADEA Shares Purchased by Systematic Financial Management LP

Systematic Financial Management LP boosted its position in Adeia Inc. (NASDAQ:ADEA) by 27.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,891,131 shares of the company’s stock after purchasing an additional 630,039 shares during the period. Adeia makes up about 1.2% of Systematic Financial Management LP’s portfolio, making the stock its 16th largest holding. Systematic Financial Management LP owned 2.64% of Adeia worth $49,872,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Adeia by 29.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after purchasing an additional 57,878 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Adeia in the 3rd quarter worth approximately $3,259,000. JPMorgan Chase & Co. raised its holdings in shares of Adeia by 39.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after purchasing an additional 296,742 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Adeia by 15.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after purchasing an additional 68,745 shares in the last quarter. Finally, Denali Advisors LLC bought a new stake in shares of Adeia in the 4th quarter worth approximately $833,000. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Adeia in a report on Tuesday, May 5th. Weiss Ratings downgraded shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Maxim Group set a $35.00 target price on shares of Adeia in a report on Wednesday, May 6th. Roth Mkm reiterated a “buy” rating and issued a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Finally, Zacks Research upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, Adeia has an average rating of “Buy” and an average price target of $33.60.

Adeia Stock Performance

Adeia stock opened at $26.86 on Friday. The firm’s 50 day simple moving average is $27.07 and its 200-day simple moving average is $20.29. The company has a market cap of $2.96 billion, a P/E ratio of 24.87 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $34.34.

Adeia (NASDAQ:ADEA) last released 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 business had revenue of $104.77 million for the quarter, compared to the consensus estimate of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. As a group, equities research analysts predict that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is 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.