Pacer Advisors Inc. Sells 504,670 Shares of Adeia Inc. (NASDAQ:ADEA)

Pacer Advisors Inc. lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 11.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,043,147 shares of the company’s stock after selling 504,670 shares during the period. Pacer Advisors Inc.’s holdings in Adeia were worth $48,154,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in shares of Adeia by 11.6% in the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after purchasing an additional 390,836 shares in the last quarter. Boston Partners raised its stake in shares of Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after acquiring an additional 325,342 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after acquiring an additional 159,254 shares during the last quarter. Vanguard Group Inc. raised its position in Adeia by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after purchasing an additional 132,718 shares during the period. Finally, Skylands Capital LLC boosted its position in Adeia by 99.7% during the second quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock valued at $2,327,000 after buying an additional 103,817 shares during the period. Institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ADEA shares. BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research report on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Friday, November 8th.

Adeia Price Performance

Shares of ADEA stock opened at $12.10 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. Adeia Inc. has a fifty-two week low of $9.05 and a fifty-two week high of $14.24. The firm has a market cap of $1.32 billion, a P/E ratio of 33.61 and a beta of 1.44. The business’s 50 day moving average price is $12.12 and its 200-day moving average price is $11.67.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.65%. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.