Algert Global LLC Makes New $122,000 Investment in Adeia Inc. (NASDAQ:ADEA)

Algert Global LLC acquired a new stake in shares of Adeia Inc. (NASDAQ:ADEA) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,928 shares of the company’s stock, valued at approximately $122,000.

A number of other hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Adeia by 16.1% during the fourth quarter. Wellington Management Group LLP now owns 576,745 shares of the company’s stock valued at $7,146,000 after purchasing an additional 80,146 shares in the last quarter. LSV Asset Management boosted its stake in Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock worth $36,746,000 after buying an additional 1,259,857 shares in the last quarter. Boston Partners grew its position in Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock valued at $24,761,000 after acquiring an additional 325,342 shares during the last quarter. Select Equity Group L.P. raised its stake in shares of Adeia by 12.6% during the second quarter. Select Equity Group L.P. now owns 653,425 shares of the company’s stock worth $7,309,000 after acquiring an additional 73,204 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Adeia by 24.1% in the 2nd quarter. Mackenzie Financial Corp now owns 68,340 shares of the company’s stock worth $764,000 after acquiring an additional 13,290 shares during the last quarter. 97.36% of the stock is owned by institutional investors.

Adeia Stock Up 3.6 %

Shares of Adeia stock opened at $11.88 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. Adeia Inc. has a 52-week low of $8.11 and a 52-week high of $13.39. The company’s 50 day moving average price is $11.73 and its 200-day moving average price is $11.28. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 34.94 and a beta of 1.45.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to analysts’ expectations of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. Equities research analysts forecast that Adeia Inc. will post 1.18 EPS for the current year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Adeia’s dividend payout ratio is currently 58.82%.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several recent research reports. BWS Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Thursday, September 26th. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Adeia in a research note on Thursday, June 20th.

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.