Victory Capital Management Inc. Lowers Position in Adeia Inc. (NASDAQ:ADEA)

Victory Capital Management Inc. trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 133,393 shares of the company’s stock after selling 1,781 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Adeia worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADEA. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Adeia during the third quarter valued at about $8,412,000. Systematic Financial Management LP lifted its position in shares of Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after buying an additional 313,741 shares in the last quarter. Harvey Partners LLC boosted its stake in shares of Adeia by 5.8% in the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after buying an additional 168,000 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Adeia by 320.5% in the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after acquiring an additional 97,815 shares in the last quarter. Finally, State Street Corp increased its position in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after acquiring an additional 91,288 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Adeia Trading Up 1.6 %

NASDAQ:ADEA opened at $13.89 on Tuesday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. 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 firm’s 50 day moving average is $13.91 and its 200 day moving average is $13.03. The stock has a market capitalization of $1.49 billion, a PE ratio of 24.37 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analyst estimates 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 company posted $0.27 earnings per share. Sell-side analysts expect that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. Adeia’s payout ratio is 35.09%.

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.