Headlands Technologies LLC Invests $252,000 in Adeia Inc. (NASDAQ:ADEA)

Headlands Technologies LLC purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,056 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Adeia by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company’s stock worth $36,734,000 after purchasing an additional 10,883 shares in the last quarter. Wellington Management Group LLP increased its holdings in Adeia by 1.1% in the 4th quarter. Wellington Management Group LLP now owns 1,107,821 shares of the company’s stock worth $15,487,000 after buying an additional 11,704 shares in the last quarter. Norges Bank purchased a new position in Adeia in the 4th quarter worth about $3,288,000. JPMorgan Chase & Co. lifted its stake in Adeia by 5.6% during the 4th quarter. JPMorgan Chase & Co. now owns 875,044 shares of the company’s stock valued at $12,233,000 after acquiring an additional 46,249 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in shares of Adeia during the 4th quarter valued at about $168,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $11.23 on Friday. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The firm has a 50 day moving average of $13.98 and a 200 day moving average of $13.16. 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 firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 19.70 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period in the previous year, the business earned $0.27 earnings per share. On average, research analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.78%. The ex-dividend date was Monday, March 10th. Adeia’s dividend payout ratio is 35.09%.

Wall Street Analysts Forecast Growth

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

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.