Thrivent Financial for Lutherans Sells 1,065 Shares of Adeia Inc. (NASDAQ:ADEA)

Thrivent Financial for Lutherans trimmed its stake in Adeia Inc. (NASDAQ:ADEA) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,456 shares of the company’s stock after selling 1,065 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Adeia worth $1,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Picton Mahoney Asset Management lifted its position in Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after buying an additional 972 shares during the last quarter. KBC Group NV lifted 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 worth $97,000 after acquiring an additional 2,977 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new position in shares of Adeia during the 4th quarter worth about $142,000. Cibc World Markets Corp bought a new position in Adeia during the 4th quarter valued at about $142,000. Finally, Hohimer Wealth Management LLC purchased a new stake in Adeia in the 3rd quarter worth about $190,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Adeia stock opened at $13.22 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market capitalization of $1.43 billion, a PE ratio of 23.19 and a beta of 1.44. The company has a 50 day moving average price of $14.04 and a 200-day moving average price of $13.16. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The business had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. During the same period in the previous year, the company posted $0.27 EPS. As a group, equities analysts forecast 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 10th. Adeia’s payout ratio is 35.09%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Maxim Group upped their target price 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 reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th. Finally, BWS Financial lifted their target price on Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

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.