Picton Mahoney Asset Management Boosts Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

Picton Mahoney Asset Management boosted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 52.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,836 shares of the company’s stock after buying an additional 972 shares during the period. Picton Mahoney Asset Management’s holdings in Adeia were worth $39,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Swiss National Bank grew its position in shares of Adeia by 1.1% in the fourth quarter. Swiss National Bank now owns 214,246 shares of the company’s stock valued at $2,995,000 after purchasing an additional 2,300 shares in the last quarter. KBC Group NV grew its position 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 purchasing an additional 2,977 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Adeia by 20.6% in the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after purchasing an additional 3,900 shares in the last quarter. Zacks Investment Management grew its position in shares of Adeia by 51.5% in the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after purchasing an additional 5,902 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Adeia by 5.3% in the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after purchasing an additional 6,700 shares in the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Trading Down 0.5 %

ADEA opened at $13.67 on Monday. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The stock has a market capitalization of $1.47 billion, a PE ratio of 23.98 and a beta of 1.44. The business’s 50 day moving average price is $13.92 and its 200 day moving average price is $13.02. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, equities research analysts expect that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio (DPR) is 35.09%.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of analyst reports. Maxim Group upped their price target on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. BWS Financial upped their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 price objective on shares of Adeia in a report on Friday, February 28th.

About Adeia

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.