Mutual of America Capital Management LLC Sells 7,558 Shares of Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC cut its holdings in Adeia Inc. (NASDAQ:ADEA) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 461,450 shares of the company’s stock after selling 7,558 shares during the period. Mutual of America Capital Management LLC’s holdings in Adeia were worth $5,717,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Highlander Capital Management LLC grew its stake in shares of Adeia by 267.3% in the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after purchasing an additional 1,518 shares during the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of Adeia in the fourth quarter worth about $460,000. Saxon Interests Inc. bought a new stake in shares of Adeia in the fourth quarter worth about $183,000. Pacer Advisors Inc. lifted its holdings in Adeia by 35.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after buying an additional 903,568 shares during the period. Finally, Raymond James & Associates lifted its holdings in Adeia by 10.9% in the fourth quarter. Raymond James & Associates now owns 62,891 shares of the company’s stock worth $779,000 after buying an additional 6,186 shares during the period. 97.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Rosenblatt Securities began coverage on shares of Adeia in a report on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective for the company.

Adeia Stock Performance

Shares of ADEA opened at $10.20 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. Adeia Inc. has a one year low of $7.12 and a one year high of $13.39. The company has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $10.68. The firm has a market capitalization of $1.11 billion, a PE ratio of 17.29 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Adeia had a net margin of 17.33% and a return on equity of 42.74%. The business had revenue of $86.87 million during the quarter, compared to analyst estimates of $89.23 million. On average, analysts anticipate that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 1.96%. Adeia’s payout ratio is 33.90%.

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.