Kennedy Capital Management LLC Grows Position in Adeia Inc. $ADEA

Kennedy Capital Management LLC boosted its holdings in Adeia Inc. (NASDAQ:ADEA) by 32.9% in the 4th quarter, HoldingsChannel reports. The fund owned 527,981 shares of the company’s stock after acquiring an additional 130,810 shares during the quarter. Kennedy Capital Management LLC’s holdings in Adeia were worth $9,108,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Adeia by 29.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 257,441 shares of the company’s stock worth $4,441,000 after acquiring an additional 57,878 shares in the last quarter. JPMorgan Chase & Co. raised its position in Adeia by 39.4% in the third quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after acquiring an additional 296,742 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Adeia in the third quarter worth $3,259,000. Public Sector Pension Investment Board raised its position in Adeia by 15.4% in the third quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after acquiring an additional 68,745 shares in the last quarter. Finally, Denali Advisors LLC purchased a new position in Adeia in the fourth quarter worth $833,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. BWS Financial reiterated a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Roth Mkm restated a “buy” rating and issued a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Adeia presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

Adeia Stock Performance

Shares of ADEA stock opened at $31.92 on Monday. 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 cap of $3.52 billion, a P/E ratio of 29.56 and a beta of 1.40. The business has a fifty day simple moving average of $28.86 and a 200-day simple moving average of $22.11. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Adeia had a return on equity of 39.49% and a net margin of 26.50%.The business had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. On average, analysts forecast that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders 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 0.6%. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

About Adeia

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.