Empowered Funds LLC Sells 19,442 Shares of Adeia Inc. (NASDAQ:ADEA)

Empowered Funds LLC trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,874 shares of the company’s stock after selling 19,442 shares during the quarter. Empowered Funds LLC owned approximately 0.10% of Adeia worth $1,578,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. KBC Group NV boosted its position in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC bought a new stake in Adeia during the 4th quarter valued at approximately $142,000. Hohimer Wealth Management LLC bought a new stake in Adeia during the 3rd quarter valued at approximately $190,000. Seizert Capital Partners LLC bought a new stake in Adeia during the 3rd quarter valued at approximately $197,000. Finally, Zacks Investment Management boosted its position in Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after acquiring an additional 5,902 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADEA shares. Rosenblatt Securities boosted their price target on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. BWS Financial reissued a “buy” rating and issued a $16.00 price target on shares of Adeia in a research report on Monday, January 13th.

Adeia Stock Performance

Shares of ADEA opened at $13.28 on Friday. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average price is $13.42 and its 200-day moving average price is $12.48. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $14.75. The stock has a market cap of $1.45 billion, a P/E ratio of 36.89 and a beta of 1.37.

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.