Adeia Inc. (NASDAQ:ADEA) Short Interest Update

Adeia Inc. (NASDAQ:ADEA) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,430,000 shares, an increase of 11.4% from the October 31st total of 3,080,000 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 433,700 shares, the short-interest ratio is currently 7.9 days.

Institutional Trading of Adeia

Large investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC lifted its position in Adeia by 0.9% during 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 buying an additional 875 shares in the last quarter. Gallacher Capital Management LLC lifted its position in shares of Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock worth $266,000 after purchasing an additional 1,186 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Adeia by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock valued at $611,000 after purchasing an additional 1,500 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Adeia by 0.6% in the second quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock valued at $3,599,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Adeia by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 100,353 shares of the company’s stock worth $1,096,000 after buying an additional 3,793 shares in the last quarter. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research report on Monday, November 11th.

Adeia Stock Performance

NASDAQ ADEA opened at $12.12 on Monday. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 33.67 and a beta of 1.44. 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 has a 1-year low of $9.05 and a 1-year high of $14.24. The company has a 50 day moving average of $12.11 and a 200-day moving average of $11.72.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.65%. 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.