Victory Capital Management Inc. Sells 3,632 Shares of Adeia Inc. (NASDAQ:ADEA)

Victory Capital Management Inc. cut its stake in Adeia Inc. (NASDAQ:ADEA) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,174 shares of the company’s stock after selling 3,632 shares during the period. Victory Capital Management Inc. owned about 0.12% of Adeia worth $1,610,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its holdings in shares of Adeia by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after acquiring an additional 875 shares during the last quarter. Gallacher Capital Management LLC boosted its position in Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after buying an additional 1,186 shares during the period. ProShare Advisors LLC grew its stake in shares of Adeia by 7.4% during the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after buying an additional 1,483 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Adeia by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after buying an additional 1,500 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Adeia by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock valued at $3,599,000 after acquiring an additional 1,904 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price objective on shares of Adeia in a research note on Friday, November 8th.

Adeia Price Performance

ADEA stock opened at $12.25 on Tuesday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 33.47 and a beta of 1.44. The firm’s 50-day moving average price is $12.13 and its two-hundred day moving average price is $11.69. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia Inc. has a 12-month low of $9.05 and a 12-month high of $14.24.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s payout ratio is 55.56%.

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.