Teacher Retirement System of Texas Lowers Position in Adeia Inc. (NASDAQ:ADEA)

Teacher Retirement System of Texas cut its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 43.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,428 shares of the company’s stock after selling 14,986 shares during the period. Teacher Retirement System of Texas’ holdings in Adeia were worth $272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADEA. State Street Corp lifted its position in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after purchasing an additional 91,288 shares in the last quarter. Harvey Partners LLC increased its stake in Adeia by 5.8% in the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after buying an additional 168,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after buying an additional 78,135 shares in the last quarter. Boston Partners boosted its stake in shares of Adeia by 5.3% in the 4th quarter. Boston Partners now owns 2,563,814 shares of the company’s stock worth $35,548,000 after buying an additional 129,922 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of Adeia by 17.0% in the third quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock valued at $25,728,000 after acquiring an additional 313,741 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADEA. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th. Maxim Group boosted their price target on shares of 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 price objective on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $13.42 on Wednesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 23.54 and a beta of 1.44. The stock has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $13.17. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analyst estimates of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter last year, the firm posted $0.27 EPS. Analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, March 10th. Adeia’s payout ratio is currently 35.09%.

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.