Intech Investment Management LLC Increases Position in Adeia Inc. (NASDAQ:ADEA)

Intech Investment Management LLC increased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 320.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,333 shares of the company’s stock after purchasing an additional 97,815 shares during the period. Intech Investment Management LLC owned approximately 0.12% of Adeia worth $1,528,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Adeia by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after purchasing an additional 132,718 shares in the last quarter. LSV Asset Management raised its holdings in Adeia by 11.6% during the second quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after purchasing an additional 390,836 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after purchasing an additional 159,254 shares in the last quarter. Boston Partners raised its holdings in Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after purchasing an additional 325,342 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in Adeia by 1.4% during the second quarter. Systematic Financial Management LP now owns 1,846,460 shares of the company’s stock worth $20,653,000 after purchasing an additional 25,796 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Trading Up 1.7 %

Shares of ADEA opened at $12.25 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average is $12.13 and its two-hundred day moving average is $11.69. Adeia Inc. has a twelve month low of $9.05 and a twelve month high of $14.24. The firm has a market capitalization of $1.34 billion, a P/E ratio of 34.03 and a beta of 1.44.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.63%. Adeia’s payout ratio is currently 55.56%.

Analysts Set New Price Targets

ADEA has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $15.00 price target on shares of Adeia in a report on Friday, November 8th. BWS Financial restated a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Monday, November 11th.

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.