Rhumbline Advisers Sells 1,433 Shares of Adeia Inc. (NASDAQ:ADEA)

Rhumbline Advisers lowered its position in Adeia Inc. (NASDAQ:ADEA) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 311,135 shares of the company’s stock after selling 1,433 shares during the period. Rhumbline Advisers owned 0.28% of Adeia worth $4,350,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADEA. Stephens Inc. AR lifted its position in shares of Adeia by 5.3% during the 3rd quarter. Stephens Inc. AR now owns 593,636 shares of the company’s stock valued at $7,070,000 after acquiring an additional 29,889 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Adeia by 169.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock valued at $1,061,000 after buying an additional 55,979 shares during the period. Royce & Associates LP grew its position in Adeia by 22.2% during the third quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after buying an additional 50,512 shares during the period. Empowered Funds LLC lifted its holdings in Adeia by 5.3% during the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Seizert Capital Partners LLC purchased a new stake in Adeia during the third quarter valued at about $197,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Down 0.1 %

Shares of Adeia stock opened at $15.72 on Friday. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a market cap of $1.69 billion, a P/E ratio of 27.58 and a beta of 1.37. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The company’s fifty day simple moving average is $13.75 and its two-hundred day simple moving average is $12.79.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the previous year, the business posted $0.27 EPS. Research analysts anticipate that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s payout ratio is 35.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Maxim Group raised their price objective on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Adeia in a research note on Friday. Finally, BWS Financial lifted their target price on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

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.