Harvey Partners LLC Boosts Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Harvey Partners LLC increased its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,052,000 shares of the company’s stock after acquiring an additional 168,000 shares during the period. Adeia comprises approximately 4.1% of Harvey Partners LLC’s investment portfolio, making the stock its 5th largest holding. Harvey Partners LLC owned 2.80% of Adeia worth $36,349,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in Adeia in the second quarter valued at approximately $47,000. Algert Global LLC bought a new position in shares of Adeia during the second quarter valued at approximately $122,000. Seizert Capital Partners LLC bought a new stake in Adeia in the third quarter worth $197,000. SG Americas Securities LLC acquired a new stake in Adeia during the second quarter worth about $227,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Adeia in the 3rd quarter valued at approximately $253,000. 97.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a research note on Friday, November 8th. BWS Financial reissued a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Monday, November 11th.

Adeia Stock Up 3.2 %

NASDAQ ADEA opened at $12.51 on Tuesday. The stock has a market capitalization of $1.37 billion, a PE ratio of 34.75 and a beta of 1.42. The business has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $11.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42. Adeia Inc. has a fifty-two week low of $9.40 and a fifty-two week high of $14.24.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.60%. Adeia’s payout ratio is 55.56%.

Adeia Company Profile

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.