JPMorgan Chase & Co. Decreases Holdings in Adeia Inc. (NASDAQ:ADEA)

JPMorgan Chase & Co. trimmed its stake in Adeia Inc. (NASDAQ:ADEA) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 828,795 shares of the company’s stock after selling 3,666 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.76% of Adeia worth $9,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Algert Global LLC bought a new position in shares of Adeia in the second quarter worth $122,000. Hohimer Wealth Management LLC bought a new position in Adeia in the 3rd quarter worth about $190,000. Seizert Capital Partners LLC purchased a new position in Adeia during the 3rd quarter valued at about $197,000. Zacks Investment Management lifted its holdings in shares of Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after buying an additional 5,902 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Adeia in the third quarter valued at approximately $253,000. 97.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ADEA has been the subject of several recent analyst reports. Rosenblatt Securities boosted their price objective on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. BWS Financial reissued a “buy” rating and issued a $16.00 price target on shares of Adeia in a report on Wednesday, December 4th.

Adeia Trading Down 3.1 %

NASDAQ:ADEA opened at $12.69 on Tuesday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $14.75. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $13.10 and a 200-day moving average price of $12.22. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 35.25 and a beta of 1.39.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.58%. Adeia’s payout ratio is presently 55.56%.

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.