EntryPoint Capital LLC Invests $168,000 in Adeia Inc. (NASDAQ:ADEA)

EntryPoint Capital LLC acquired a new stake in Adeia Inc. (NASDAQ:ADEA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,984 shares of the company’s stock, valued at approximately $168,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Adeia by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company’s stock valued at $201,642,000 after purchasing an additional 143,297 shares in the last quarter. State Street Corp lifted its holdings in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after buying an additional 91,288 shares during the period. Harvey Partners LLC boosted its stake in Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after buying an additional 168,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Adeia by 3.1% during the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after acquiring an additional 78,135 shares during the period. Finally, Boston Partners raised its position in Adeia by 5.3% in the fourth quarter. Boston Partners now owns 2,563,814 shares of the company’s stock worth $35,548,000 after acquiring an additional 129,922 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADEA. Rosenblatt Securities restated a “buy” rating and set a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th. Maxim Group raised their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, BWS Financial upped their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Adeia Trading Down 5.2 %

Shares of ADEA opened at $13.25 on Friday. The business’s 50-day moving average price is $14.03 and its 200 day moving average price is $13.14. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $1.42 billion, a P/E ratio of 23.25 and a beta of 1.44. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $119.17 million for the quarter, compared to the consensus estimate 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 firm posted $0.27 earnings per share. Analysts expect that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.51%. Adeia’s payout ratio is currently 35.09%.

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.