UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,486 shares of the company’s stock after selling 23,330 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Adeia worth $1,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADEA. Gallacher Capital Management LLC grew its position in Adeia by 5.2% during the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after buying an additional 1,186 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Adeia by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock valued at $611,000 after acquiring an additional 1,500 shares during the period. Rhumbline Advisers increased its stake in shares of Adeia by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after purchasing an additional 1,904 shares in the last quarter. Innealta Capital LLC bought a new position in Adeia in the 2nd quarter worth $47,000. Finally, Wedge Capital Management L L P NC lifted its position in Adeia by 4.2% during the third quarter. Wedge Capital Management L L P NC now owns 105,188 shares of the company’s stock valued at $1,253,000 after purchasing an additional 4,283 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 1.6 %

Shares of ADEA stock opened at $14.61 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The stock has a fifty day simple moving average of $12.43 and a two-hundred day simple moving average of $11.85. The firm has a market capitalization of $1.60 billion, a PE ratio of 40.58 and a beta of 1.42. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Analysts Set New Price Targets

ADEA has been the subject of a number of analyst reports. Rosenblatt Securities upped their price target on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a research note on Wednesday, December 4th.

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.