Hillsdale Investment Management Inc. Acquires 101,670 Shares of Adeia Inc. $ADEA

Hillsdale Investment Management Inc. boosted its holdings in Adeia Inc. (NASDAQ:ADEA) by 30.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 434,203 shares of the company’s stock after purchasing an additional 101,670 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Adeia were worth $6,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP purchased a new position in shares of Adeia in the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Adeia in the 1st quarter worth $43,000. Brooklyn Investment Group bought a new position in shares of Adeia during the 1st quarter valued at about $44,000. GAMMA Investing LLC grew its position in shares of Adeia by 85.4% during the second quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock valued at $94,000 after purchasing an additional 3,078 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Adeia during the second quarter valued at about $144,000. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Adeia stock opened at $11.74 on Friday. Adeia Inc. has a 12-month low of $10.59 and a 12-month high of $18.25. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $15.77 and a 200-day moving average price of $14.60. The firm has a market capitalization of $1.29 billion, a PE ratio of 15.86 and a beta of 1.78.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Adeia had a return on equity of 30.31% and a net margin of 22.15%.The firm had revenue of $87.34 million during the quarter, compared to analysts’ expectations of $99.24 million. Adeia has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 24th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, November 24th. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. Adeia’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADEA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Adeia in a research report on Wednesday. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Roth Capital restated a “buy” rating on shares of Adeia in a research report on Monday, November 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Adeia in a research note on Tuesday, November 4th. Finally, BWS Financial reissued a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research note on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

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.