Bailard Inc. Invests $310,000 in Adeia Inc. $ADEA

Bailard Inc. acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA) in the 4th quarter, HoldingsChannel reports. The fund acquired 18,000 shares of the company’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Adeia by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after purchasing an additional 2,829 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Adeia during the 1st quarter worth approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Adeia by 22.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after buying an additional 42,918 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Adeia by 1,193.2% during the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after buying an additional 321,976 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Adeia during the 1st quarter worth approximately $167,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Trading Down 5.1%

NASDAQ:ADEA opened at $29.88 on Friday. The business’s 50-day moving average is $26.59 and its two-hundred day moving average is $19.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The firm has a market capitalization of $3.30 billion, a PE ratio of 27.67 and a beta of 1.48.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The company had revenue of $104.77 million for the quarter, compared to analyst estimates of $99.72 million. Research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s dividend payout ratio (DPR) is 18.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Rosenblatt Securities restated a “buy” rating and issued a $40.00 price target on shares of Adeia in a report on Tuesday, May 5th. BWS Financial restated a “buy” rating and issued a $30.00 price target on shares of Adeia in a report on Tuesday, May 5th. Finally, Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $33.60.

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.