Mutual of America Capital Management LLC Reduces Stock Position in Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC lessened its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,199 shares of the company’s stock after selling 1,715 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.39% of Adeia worth $5,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Adeia by 2.1% during the 3rd quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after purchasing an additional 91,288 shares in the last quarter. Harvey Partners LLC increased its position in Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares in the last quarter. Geode Capital Management LLC increased its position in Adeia by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after purchasing an additional 78,135 shares in the last quarter. Systematic Financial Management LP increased its position in Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock worth $25,728,000 after purchasing an additional 313,741 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Adeia by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company’s stock worth $15,715,000 after purchasing an additional 13,619 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Down 4.4 %

ADEA opened at $15.03 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 26.37 and a beta of 1.37. The business has a 50-day moving average of $13.79 and a two-hundred day moving average of $12.84. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46.

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

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s payout ratio is currently 35.09%.

Analysts Set New Price Targets

A number of analysts recently commented on ADEA shares. Maxim Group lifted their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Rosenblatt Securities restated a “buy” rating and issued a $20.00 price target on shares of Adeia in a report on Friday. Finally, BWS Financial lifted their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report 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.