Riverwater Partners LLC Makes New Investment in Adeia Inc. $ADEA

Riverwater Partners LLC purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 137,314 shares of the company’s stock, valued at approximately $2,307,000. Adeia accounts for about 1.0% of Riverwater Partners LLC’s portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Adeia by 714.9% during the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after acquiring an additional 2,309 shares during the last quarter. CWM LLC lifted its stake in Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after purchasing an additional 1,988 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Adeia during the 3rd quarter worth approximately $56,000. GAMMA Investing LLC boosted its stake in shares of Adeia by 85.4% during the second quarter. GAMMA Investing LLC now owns 6,681 shares of the company’s stock valued at $94,000 after purchasing an additional 3,078 shares during the period. Finally, Creative Planning bought a new position in Adeia in the 2nd quarter worth about $144,000. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. BWS Financial increased their target price on shares of Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 29th. Rosenblatt Securities raised their price objective on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Roth Mkm reissued a “buy” rating on shares of Adeia in a research report on Monday, December 22nd. UBS Group set a $20.00 price objective on Adeia in a research note on Tuesday, December 23rd. Finally, Zacks Research raised shares of Adeia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.00.

Adeia Stock Down 2.3%

Shares of ADEA opened at $18.87 on Tuesday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 29.03 and a beta of 1.46. The stock has a 50 day moving average price of $15.56 and a 200 day moving average price of $15.34. Adeia Inc. has a one year low of $10.59 and a one year high of $20.33. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 3.72.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). Adeia had a return on equity of 29.36% and a net margin of 19.32%.The business had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Equities research analysts forecast that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, November 24th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, November 24th. Adeia’s dividend payout ratio (DPR) is currently 30.77%.

Adeia Company Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.