Skylands Capital LLC Decreases Stake in Adeia Inc. (NASDAQ:ADEA)

Skylands Capital LLC reduced its holdings in Adeia Inc. (NASDAQ:ADEA) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,000 shares of the company’s stock after selling 800 shares during the period. Skylands Capital LLC’s holdings in Adeia were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Hotchkis & Wiley Capital Management LLC purchased a new position in Adeia during the third quarter worth about $8,412,000. Systematic Financial Management LP raised its stake in Adeia by 17.0% during the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after purchasing an additional 313,741 shares during the period. Harvey Partners LLC raised its stake in Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares during the period. Intech Investment Management LLC raised its stake in Adeia by 320.5% during the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after purchasing an additional 97,815 shares during the period. Finally, State Street Corp raised its stake in Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after purchasing an additional 91,288 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Price Performance

Shares of ADEA opened at $17.23 on Monday. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46. The stock has a market cap of $1.85 billion, a PE ratio of 30.23 and a beta of 1.37. The firm has a 50-day simple moving average of $13.58 and a two-hundred day simple moving average of $12.66. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.42.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the business posted $0.27 earnings per share. As a group, analysts forecast that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is currently 35.09%.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of analyst reports. Maxim Group lifted their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. BWS Financial lifted their price target on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday, February 18th.

About Adeia

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.