Handelsbanken Fonder AB Acquires 3,900 Shares of Adeia Inc. (NASDAQ:ADEA)

Handelsbanken Fonder AB grew its holdings in Adeia Inc. (NASDAQ:ADEA) by 20.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,800 shares of the company’s stock after purchasing an additional 3,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Adeia were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. KBC Group NV lifted its position in Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new position in Adeia during the fourth quarter worth about $142,000. Hohimer Wealth Management LLC bought a new stake in shares of Adeia during the 3rd quarter worth $190,000. Seizert Capital Partners LLC purchased a new position in shares of Adeia during the third quarter worth approximately $197,000. Finally, Zacks Investment Management boosted its holdings in Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after acquiring an additional 5,902 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on ADEA shares. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 target price on shares of Adeia in a research note on Friday. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, BWS Financial raised their target price on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Adeia Price Performance

Adeia stock opened at $15.03 on Tuesday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 26.37 and a beta of 1.37. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $13.79 and its 200 day moving average is $12.84. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period last year, the company earned $0.27 earnings per share. Sell-side analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio is currently 35.09%.

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.