Adeia Inc. (NASDAQ:ADEA) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,905 shares of the company’s stock after acquiring an additional 875 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of Adeia worth $1,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its holdings in Adeia by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock valued at $1,024,000 after purchasing an additional 1,215 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings 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 acquiring an additional 1,291 shares during the period. Illinois Municipal Retirement Fund raised its position in Adeia by 2.3% during the first quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock valued at $687,000 after acquiring an additional 1,420 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after acquiring an additional 1,483 shares during the period. Finally, EMC Capital Management boosted its position in Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after purchasing an additional 2,360 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

ADEA has been the subject of several recent research reports. BWS Financial reaffirmed a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research report on Thursday, June 20th.

Adeia Price Performance

Shares of ADEA stock traded up $0.04 during trading hours on Friday, hitting $11.84. 28,458 shares of the company’s stock were exchanged, compared to its average volume of 502,567. Adeia Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $13.39. The firm has a market cap of $1.28 billion, a P/E ratio of 34.71 and a beta of 1.47. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average of $11.18 and a two-hundred day moving average of $11.21.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, August 27th. Adeia’s dividend payout ratio is presently 58.82%.

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.