Adeia Inc. (NASDAQ:ADEA) Stake Increased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its holdings in Adeia Inc. (NASDAQ:ADEA) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,433 shares of the company’s stock after purchasing an additional 55,892 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.29% of Adeia worth $4,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jane Street Group LLC raised its holdings in shares of Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after acquiring an additional 79,565 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after acquiring an additional 3,900 shares in the last quarter. Harvey Partners LLC increased its position 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 buying an additional 168,000 shares during the last quarter. Barclays PLC increased its position in Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after buying an additional 78,276 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Adeia by 3.1% during the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after buying an additional 78,135 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADEA has been the topic of several analyst reports. BWS Financial increased their target price on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Maxim Group increased their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $20.00 price target on shares of Adeia in a research report on Friday, February 28th.

Adeia Trading Down 1.2 %

Shares of NASDAQ:ADEA opened at $13.64 on Friday. The company has a market cap of $1.47 billion, a P/E ratio of 23.93 and a beta of 1.44. The stock’s 50-day moving average is $13.93 and its 200-day moving average is $13.06. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. During the same period last year, the business earned $0.27 earnings per share. Equities research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

Adeia 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.