Jacobs Levy Equity Management Inc. Reduces Stake in Adeia Inc. (NASDAQ:ADEA)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 37.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,860 shares of the company’s stock after selling 113,873 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Adeia were worth $2,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Adeia during the 4th quarter valued at approximately $25,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Adeia during the fourth quarter worth $33,000. Picton Mahoney Asset Management increased its position in Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after acquiring an additional 972 shares during the last quarter. KBC Group NV raised its stake in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares during the period. Finally, Linden Thomas Advisory Services LLC bought a new stake in shares of Adeia in the 4th quarter worth about $142,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ADEA shares. BWS Financial reiterated a “buy” rating and set a $18.00 price target on shares of Adeia in a report on Tuesday, May 6th. Maxim Group upped their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $17.00 price target on shares of Adeia in a research note on Tuesday, May 6th.

Adeia Trading Down 0.7%

NASDAQ ADEA opened at $13.75 on Friday. The stock has a market cap of $1.49 billion, a PE ratio of 24.12 and a beta of 1.57. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The company’s 50-day moving average price is $12.86 and its 200-day moving average price is $13.24. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.

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

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.20 annualized dividend and a yield of 1.45%. Adeia’s payout ratio is currently 30.30%.

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.