Franklin Resources Inc. Raises Holdings in Adeia Inc. (NASDAQ:ADEA)

Franklin Resources Inc. boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 21.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,760 shares of the company’s stock after acquiring an additional 17,905 shares during the quarter. Franklin Resources Inc. owned 0.09% of Adeia worth $1,185,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ADEA. Louisiana State Employees Retirement System raised its position in shares of Adeia by 2.8% in the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after acquiring an additional 1,500 shares during the period. Bank of New York Mellon Corp boosted its position in Adeia by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,211,230 shares of the company’s stock worth $13,548,000 after purchasing an additional 17,229 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Adeia in the second quarter valued at approximately $689,000. Rhumbline Advisers raised its stake in shares of Adeia by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after buying an additional 1,904 shares during the period. Finally, Foundry Partners LLC lifted its position in shares of Adeia by 5.3% during the 2nd quarter. Foundry Partners LLC now owns 606,976 shares of the company’s stock valued at $6,789,000 after buying an additional 30,555 shares in the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADEA has been the topic of several recent analyst reports. Rosenblatt Securities increased their price objective on shares of Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, December 12th. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Wednesday, December 4th.

Adeia Stock Down 0.9 %

Shares of NASDAQ:ADEA opened at $13.80 on Friday. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $14.75. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The business has a fifty day moving average of $12.82 and a two-hundred day moving average of $12.00. The stock has a market cap of $1.51 billion, a P/E ratio of 38.33 and a beta of 1.42.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is 55.56%.

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.