Bank of New York Mellon Corp Boosts Stake in Adeia Inc. (NASDAQ:ADEA)

Bank of New York Mellon Corp grew its position in Adeia Inc. (NASDAQ:ADEA) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,124,075 shares of the company’s stock after buying an additional 13,619 shares during the quarter. Bank of New York Mellon Corp owned 1.03% of Adeia worth $15,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. KBC Group NV grew its stake in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after buying an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Adeia in the fourth quarter valued at $142,000. Hohimer Wealth Management LLC acquired a new stake in shares of Adeia in the third quarter valued at $190,000. Seizert Capital Partners LLC acquired a new stake in shares of Adeia in the third quarter valued at $197,000. Finally, Zacks Investment Management grew its stake in shares of Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after buying an additional 5,902 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADEA has been the subject of a number of research reports. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Adeia in a research note on Friday, February 28th. Finally, BWS Financial boosted their target price on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Adeia Trading Down 0.2 %

ADEA opened at $14.09 on Wednesday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 24.72 and a beta of 1.44. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The business has a fifty day moving average price of $13.92 and a 200 day moving average price of $12.99.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the previous year, the firm posted $0.27 EPS. Sell-side analysts expect that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, March 10th. Adeia’s dividend payout ratio is presently 35.09%.

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.