Dynamic Technology Lab Private Ltd Invests $253,000 in Adeia Inc. (NASDAQ:ADEA)

Dynamic Technology Lab Private Ltd acquired a new stake in Adeia Inc. (NASDAQ:ADEA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,239 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management grew its holdings in Adeia by 11.6% in the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock valued at $42,010,000 after purchasing an additional 390,836 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock valued at $30,737,000 after acquiring an additional 159,254 shares during the last quarter. Skylands Capital LLC grew its stake in Adeia by 99.7% in the 2nd quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock valued at $2,327,000 after acquiring an additional 103,817 shares during the last quarter. Intech Investment Management LLC raised its position in Adeia by 320.5% during the third quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after acquiring an additional 97,815 shares during the last quarter. Finally, Select Equity Group L.P. lifted its holdings in shares of Adeia by 12.6% in the second quarter. Select Equity Group L.P. now owns 653,425 shares of the company’s stock valued at $7,309,000 after purchasing an additional 73,204 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BWS Financial reissued a “buy” rating and set a $16.00 price objective on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Adeia in a research report on Friday, November 8th.

Adeia Stock Performance

NASDAQ:ADEA opened at $12.12 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. The firm has a market cap of $1.32 billion, a PE ratio of 33.67 and a beta of 1.44. The firm has a 50 day simple moving average of $12.11 and a 200-day simple moving average of $11.72. Adeia Inc. has a 1-year low of $9.05 and a 1-year high of $14.24.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio is presently 55.56%.

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.