Illinois Municipal Retirement Fund Sells 11,097 Shares of Adeia Inc. (NASDAQ:ADEA)

Illinois Municipal Retirement Fund decreased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,806 shares of the company’s stock after selling 11,097 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Adeia were worth $710,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. KBC Group NV raised its holdings in Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares during the period. Handelsbanken Fonder AB raised its stake in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after buying an additional 3,900 shares during the period. Zacks Investment Management raised its stake in Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock worth $207,000 after buying an additional 5,902 shares during the period. Empowered Funds LLC lifted its holdings in Adeia by 5.3% during the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock worth $1,576,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC acquired a new position in Adeia in the fourth quarter valued at about $142,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of Adeia stock opened at $15.03 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 26.37 and a beta of 1.37. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The stock’s 50-day moving average is $13.79 and its 200-day moving average is $12.84.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the previous year, the business posted $0.27 EPS. Equities analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

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

Analysts Set New Price Targets

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

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.