Charles Schwab Investment Management Inc. Purchases 30,485 Shares of Adeia Inc. (NASDAQ:ADEA)

Charles Schwab Investment Management Inc. raised its position in shares of Adeia Inc. (NASDAQ:ADEA) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 995,908 shares of the company’s stock after purchasing an additional 30,485 shares during the period. Charles Schwab Investment Management Inc. owned about 0.91% of Adeia worth $13,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV increased its holdings in shares of Adeia by 74.6% in 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 during the period. Handelsbanken Fonder AB grew its stake in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after buying an additional 3,900 shares during the last quarter. Zacks Investment Management grew its stake in Adeia by 51.5% during the 3rd 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. Empowered Funds LLC grew its stake in Adeia by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after buying an additional 6,700 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new position in Adeia during the 4th quarter worth $142,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADEA. Maxim Group boosted 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. Rosenblatt Securities restated 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 lifted their price target on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA stock opened at $13.64 on Friday. The stock has a market cap of $1.47 billion, a PE ratio of 23.93 and a beta of 1.44. The business has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $13.06. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business 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 quarter in the previous year, the firm posted $0.27 EPS. On average, equities analysts expect that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. Adeia’s dividend payout ratio (DPR) is presently 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.