Wellington Management Group LLP Acquires 80,146 Shares of Adeia Inc. (NASDAQ:ADEA)

Wellington Management Group LLP lifted its holdings in Adeia Inc. (NASDAQ:ADEA) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 576,745 shares of the company’s stock after buying an additional 80,146 shares during the period. Wellington Management Group LLP owned about 0.54% of Adeia worth $7,146,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADEA. Vanguard Group Inc. grew its holdings in Adeia by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock valued at $148,900,000 after purchasing an additional 233,675 shares during the last quarter. Rubric Capital Management LP grew its holdings in Adeia by 1.0% during the 3rd quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock valued at $49,555,000 after purchasing an additional 47,448 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Adeia by 35.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock valued at $42,820,000 after purchasing an additional 903,568 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Adeia by 1.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,467,711 shares of the company’s stock valued at $30,575,000 after purchasing an additional 25,846 shares during the last quarter. Finally, LSV Asset Management grew its holdings in Adeia by 23.8% during the 4th quarter. LSV Asset Management now owns 2,105,201 shares of the company’s stock valued at $26,083,000 after purchasing an additional 405,200 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADEA. BWS Financial reiterated a “buy” rating and set a $16.00 price target on shares of Adeia in a report on Tuesday, May 7th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Adeia in a report on Thursday, June 20th.

Adeia Price Performance

Shares of ADEA stock opened at $11.19 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $1.21 billion, a P/E ratio of 32.90 and a beta of 1.44. The company’s 50-day simple moving average is $11.08 and its two-hundred day simple moving average is $11.33. Adeia Inc. has a one year low of $8.11 and a one year high of $13.39.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $83.41 million for the quarter, compared to the consensus estimate of $83.55 million. Adeia had a net margin of 11.06% and a return on equity of 33.89%. As a group, equities analysts anticipate that Adeia Inc. will post 1.2 EPS for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were given a $0.05 dividend. The ex-dividend date was Friday, May 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. Adeia’s payout ratio is presently 58.82%.

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.