Adeia Inc. (NASDAQ:ADEA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Adeia Inc. (NASDAQ:ADEA) by 60.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,445 shares of the company’s stock after selling 46,284 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Adeia were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Adeia during the 2nd quarter worth about $47,000. EMC Capital Management lifted its stake in Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after acquiring an additional 2,360 shares in the last quarter. Algert Global LLC acquired a new position in Adeia during the 2nd quarter worth about $122,000. Aristides Capital LLC acquired a new position in Adeia during the 1st quarter worth about $213,000. Finally, SG Americas Securities LLC acquired a new position in Adeia during the 2nd quarter worth about $227,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ADEA. Rosenblatt Securities reissued a “buy” rating and set a $15.00 target price on shares of Adeia in a research note on Thursday. BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th.

Adeia Trading Up 0.3 %

NASDAQ:ADEA opened at $12.47 on Friday. The stock’s 50 day moving average price is $12.06 and its 200 day moving average price is $11.46. The company has a market capitalization of $1.36 billion, a PE ratio of 31.18 and a beta of 1.44. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. Adeia Inc. has a 52-week low of $8.61 and a 52-week high of $13.39.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Adeia had a return on equity of 33.28% and a net margin of 12.87%. The firm had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. On average, research analysts anticipate that Adeia Inc. will post 1.18 EPS for the current year.

Adeia 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.