Kennedy Capital Management LLC Lowers Stake in Adeia Inc. (NASDAQ:ADEA)

Kennedy Capital Management LLC lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,482 shares of the company’s stock after selling 5,876 shares during the period. Kennedy Capital Management LLC owned 0.37% of Adeia worth $4,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ADEA. Highlander Capital Management LLC increased its position in 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. Parkside Financial Bank & Trust boosted its stake in Adeia by 55.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock worth $45,000 after buying an additional 1,291 shares during the period. Aristides Capital LLC purchased a new position in Adeia during the first quarter worth $213,000. O Shaughnessy Asset Management LLC boosted its stake in Adeia by 35.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock worth $224,000 after buying an additional 5,316 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Adeia by 7.4% during the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock worth $236,000 after buying an additional 1,483 shares during the period. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price objective on shares of Adeia in a research note on Thursday, June 20th. BWS Financial reaffirmed a “buy” rating and set a $16.00 price objective on shares of Adeia in a research note on Tuesday, July 16th.

Adeia Stock Performance

ADEA traded down $0.03 during trading on Tuesday, reaching $11.55. 411,098 shares of the company’s stock were exchanged, compared to its average volume of 502,930. Adeia Inc. has a 1 year low of $8.11 and a 1 year high of $13.39. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $1.25 billion, a P/E ratio of 33.97 and a beta of 1.47. The company’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $11.26.

Adeia (NASDAQ:ADEA) last posted its earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. The firm had revenue of $83.41 million during the quarter, compared to analyst estimates of $83.55 million. Adeia had a net margin of 11.06% and a return on equity of 33.89%. As a group, research analysts predict that Adeia Inc. will post 1.2 earnings per share for the current fiscal year.

Adeia 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.