Adeia Inc. (NASDAQ:ADEA) Shares Bought by Jane Street Group LLC

Jane Street Group LLC grew its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 66.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 199,812 shares of the company’s stock after buying an additional 79,565 shares during the period. Jane Street Group LLC owned 0.18% of Adeia worth $2,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Adeia during the second quarter valued at about $47,000. Algert Global LLC acquired a new position in shares of Adeia in the 2nd quarter valued at about $122,000. Seizert Capital Partners LLC purchased a new stake in shares of Adeia during the 3rd quarter worth about $197,000. Dynamic Technology Lab Private Ltd acquired a new stake in Adeia during the 3rd quarter worth approximately $253,000. Finally, Gallacher Capital Management LLC raised its holdings in Adeia by 5.2% in 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. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Price Performance

ADEA stock opened at $13.66 on Monday. The firm has a market cap of $1.49 billion, a P/E ratio of 37.94 and a beta of 1.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $14.75. The stock has a 50-day simple moving average of $12.66 and a 200-day simple moving average of $11.93.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is 55.56%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADEA shares. Rosenblatt Securities boosted their price objective on shares of Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th.

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.