Adeia Sees Unusually High Options Volume (NASDAQ:ADEA)

Adeia Inc. (NASDAQ:ADEA) saw unusually large options trading activity on Wednesday. Investors purchased 3,222 call options on the company. This represents an increase of 94% compared to the average volume of 1,662 call options.

Institutional Trading of Adeia

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in Adeia by 29.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after purchasing an additional 57,878 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Adeia by 39.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after acquiring an additional 296,742 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Adeia during the 3rd quarter worth approximately $3,259,000. Public Sector Pension Investment Board grew its stake in shares of Adeia by 15.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after acquiring an additional 68,745 shares in the last quarter. Finally, Denali Advisors LLC bought a new position in Adeia in the fourth quarter valued at $833,000. 97.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ADEA shares. Roth Mkm reiterated a “buy” rating and set a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Rosenblatt Securities reiterated a “buy” rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Trading Up 0.4%

NASDAQ:ADEA traded up $0.13 on Wednesday, hitting $30.79. 842,132 shares of the stock were exchanged, compared to its average volume of 1,377,953. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.51 and a beta of 1.40. Adeia has a 52 week low of $11.61 and a 52 week high of $34.34. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The company’s 50-day moving average price is $27.61 and its 200 day moving average price is $20.92.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. The firm had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Adeia had a return on equity of 39.49% and a net margin of 26.50%. On average, equities research analysts forecast that Adeia will post 1.15 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, May 26th. Adeia’s payout ratio is currently 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.