UBS Group AG Sells 114,982 Shares of Adeia Inc. $ADEA

UBS Group AG trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA) by 40.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,409 shares of the company’s stock after selling 114,982 shares during the period. UBS Group AG owned approximately 0.15% of Adeia worth $2,871,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc acquired a new stake in Adeia during the third quarter valued at approximately $28,000. Quarry LP boosted its holdings in Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Adeia by 714.9% during the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Adeia during the third quarter valued at approximately $56,000. Finally, Quadrant Capital Group LLC acquired a new stake in Adeia during the third quarter valued at approximately $142,000. 97.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of recent research reports. Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Roth Mkm reissued a “buy” rating and issued a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings downgraded Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Adeia presently has an average rating of “Buy” and an average price target of $33.60.

Adeia Stock Performance

ADEA stock opened at $26.86 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The company has a 50 day moving average price of $27.15 and a 200 day moving average price of $20.43. Adeia Inc. has a fifty-two week low of $11.61 and a fifty-two week high of $34.34. The stock has a market capitalization of $2.96 billion, a PE ratio of 24.87 and a beta of 1.48.

Adeia (NASDAQ:ADEA) last issued its earnings results 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 net margin of 26.50% and a return on equity of 39.49%. The company had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Analysts forecast that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Announces Dividend

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

Adeia 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.