1492 Capital Management LLC Increases Holdings in Adeia Inc. (NASDAQ:ADEA)

1492 Capital Management LLC increased its stake in Adeia Inc. (NASDAQ:ADEA) by 49.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,817 shares of the company’s stock after buying an additional 5,529 shares during the quarter. 1492 Capital Management LLC’s holdings in Adeia were worth $235,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its stake in Adeia by 52.1% in the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the last quarter. KBC Group NV raised its holdings in shares of Adeia by 74.6% in the 4th 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. Linden Thomas Advisory Services LLC purchased a new position in Adeia in the fourth quarter valued at approximately $142,000. Cibc World Markets Corp bought a new position in Adeia during the fourth quarter valued at $142,000. Finally, EntryPoint Capital LLC purchased a new stake in Adeia in the fourth quarter worth $168,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of ADEA opened at $11.88 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.84 and a beta of 1.47. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The stock’s 50-day simple moving average is $13.76 and its 200 day simple moving average is $13.14.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates 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 net margin of 17.19% and a return on equity of 32.81%. During the same period last year, the business earned $0.27 earnings per share. Research analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Adeia’s dividend payout ratio (DPR) is currently 35.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Maxim Group boosted their price objective on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Adeia in a research report on Friday, February 28th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Adeia in a report on Tuesday.

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.