Kendall Capital Management Cuts Stake in Adeia Inc. (NASDAQ:ADEA)

Kendall Capital Management reduced its position in Adeia Inc. (NASDAQ:ADEA) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,351 shares of the company’s stock after selling 7,660 shares during the quarter. Kendall Capital Management’s holdings in Adeia were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Adeia by 169.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock valued at $1,061,000 after buying an additional 55,979 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Adeia by 22.2% during the third quarter. Royce & Associates LP now owns 277,630 shares of the company’s stock valued at $3,307,000 after buying an additional 50,512 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Adeia by 5.3% during the third quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after buying an additional 6,700 shares during the last quarter. Seizert Capital Partners LLC purchased a new stake in shares of Adeia during the third quarter valued at $197,000. Finally, Quest Partners LLC grew its holdings in shares of Adeia by 76,084.3% during the third quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock valued at $463,000 after buying an additional 38,803 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Trading Down 0.1 %

Shares of Adeia stock opened at $14.94 on Monday. The firm has a 50-day simple moving average of $13.92 and a two-hundred day simple moving average of $12.96. The company has a market cap of $1.61 billion, a P/E ratio of 26.21 and a beta of 1.44. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. 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 issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, equities analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.05 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.34%. Adeia’s dividend payout ratio (DPR) is currently 35.09%.

Wall Street Analyst Weigh In

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

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.