Galaxy Digital Inc. Acquires Shares of 80,000 Adeia Inc. $ADEA

Galaxy Digital Inc. bought a new position in Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 80,000 shares of the company’s stock, valued at approximately $1,922,000. Adeia comprises approximately 0.2% of Galaxy Digital Inc.’s holdings, making the stock its 27th largest holding. Galaxy Digital Inc. owned approximately 0.07% of Adeia as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in shares of Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after buying an additional 1,180 shares during the last quarter. IFP Advisors Inc bought a new position in Adeia in the 3rd quarter valued at approximately $28,000. Quarry LP lifted its position in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after acquiring an additional 1,127 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in Adeia in the 1st quarter valued at approximately $58,000. Finally, Osaic Holdings Inc. boosted its stake in Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ADEA. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Roth Capital reaffirmed a “buy” rating and set a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, BWS Financial reaffirmed 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Adeia Trading Down 3.6%

Shares of ADEA stock opened at $25.95 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 24.03 and a beta of 1.36. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The firm has a fifty day moving average price of $29.27 and a 200-day moving average price of $25.23.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The company had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $99.72 million. As a group, equities analysts predict that Adeia Inc. will post 1.15 earnings per share for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Adeia Profile

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.