Moran Wealth Management LLC Purchases Shares of 58,642 Adeia Inc. $ADEA

Moran Wealth Management LLC purchased a new position in Adeia Inc. (NASDAQ:ADEA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,642 shares of the company’s stock, valued at approximately $1,409,000. Moran Wealth Management LLC owned 0.05% of Adeia at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in Adeia by 29.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock valued at $4,441,000 after acquiring an additional 57,878 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Adeia during the third quarter worth about $3,259,000. Denali Advisors LLC bought a new stake in Adeia during the 4th quarter valued at approximately $833,000. JPMorgan Chase & Co. lifted its holdings in Adeia by 39.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after purchasing an additional 296,742 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Adeia by 20.7% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock worth $3,810,000 after purchasing an additional 37,749 shares during the period. 97.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research downgraded shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Friday. Maxim Group set a $35.00 price target on shares of Adeia in a report on Wednesday, May 6th. Roth Capital reiterated a “buy” rating and issued a $43.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, BWS Financial reiterated a “buy” rating and issued a $30.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Adeia Trading Down 6.6%

ADEA stock traded down $1.93 during midday trading on Tuesday, reaching $27.40. 257,048 shares of the company traded hands, compared to its average volume of 1,539,998. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 25.29 and a beta of 1.36. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34. The business has a 50 day moving average of $30.05 and a 200-day moving average of $24.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. As a group, sell-side analysts expect that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio is 18.52%.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.