Geode Capital Management LLC Has $37.20 Million Holdings in Adeia Inc. $ADEA

Geode Capital Management LLC cut its holdings in Adeia Inc. (NASDAQ:ADEA) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,630,175 shares of the company’s stock after selling 6,034 shares during the period. Geode Capital Management LLC owned approximately 2.42% of Adeia worth $37,196,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADEA. Brooklyn Investment Group bought a new stake in shares of Adeia during the 1st quarter worth about $44,000. Invesco Ltd. raised its stake in shares of Adeia by 122.2% in the 1st quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock valued at $12,709,000 after acquiring an additional 528,617 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Adeia in the 1st quarter worth approximately $301,000. Natixis Advisors LLC boosted its position in Adeia by 72.2% during the first quarter. Natixis Advisors LLC now owns 37,167 shares of the company’s stock worth $491,000 after purchasing an additional 15,582 shares during the period. Finally, American Century Companies Inc. grew its holdings in Adeia by 19.2% during the first quarter. American Century Companies Inc. now owns 275,393 shares of the company’s stock valued at $3,641,000 after purchasing an additional 44,439 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADEA. Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Adeia in a research note on Tuesday, November 4th. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Roth Capital restated a “buy” rating on shares of Adeia in a report on Monday, November 3rd. BWS Financial reaffirmed a “buy” rating and issued a $18.00 price target on shares of Adeia in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Adeia in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Adeia Stock Down 0.3%

Shares of ADEA opened at $12.31 on Thursday. The company has a 50-day simple moving average of $15.50 and a 200-day simple moving average of $14.58. The firm has a market capitalization of $1.35 billion, a P/E ratio of 16.64 and a beta of 1.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.09 and a current ratio of 3.09. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $18.25.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The firm had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Adeia had a return on equity of 30.31% and a net margin of 22.15%. Adeia has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 24th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.6%. Adeia’s payout ratio is currently 30.77%.

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.