Geode Capital Management LLC Buys 78,135 Shares of Adeia Inc. (NASDAQ:ADEA)

Geode Capital Management LLC raised its position in Adeia Inc. (NASDAQ:ADEA) by 3.1% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,616,073 shares of the company’s stock after buying an additional 78,135 shares during the period. Geode Capital Management LLC owned about 2.40% of Adeia worth $31,163,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Adeia in the second quarter valued at about $47,000. Algert Global LLC bought a new position in shares of Adeia in the 2nd quarter valued at about $122,000. Seizert Capital Partners LLC acquired a new stake in shares of Adeia during the 3rd quarter worth approximately $197,000. Zacks Investment Management raised its stake in shares of Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after buying an additional 5,902 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Adeia in the third quarter valued at approximately $253,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Up 0.4 %

Shares of NASDAQ ADEA opened at $13.74 on Thursday. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a market cap of $1.50 billion, a P/E ratio of 38.17 and a beta of 1.42. The firm has a 50 day moving average price of $12.74 and a 200 day moving average price of $11.95.

Adeia Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ADEA. BWS Financial reiterated a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 12th.

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.