The Manufacturers Life Insurance Company Acquires Shares of 1,397,029 Adeia Inc. $ADEA

The Manufacturers Life Insurance Company bought a new position in Adeia Inc. (NASDAQ:ADEA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,397,029 shares of the company’s stock, valued at approximately $46,004,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in Adeia by 447.0% during the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock valued at $25,000 after buying an additional 1,180 shares in the last quarter. Quarry LP increased its position in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares during the period. IFP Advisors Inc bought a new stake in shares of Adeia during the third quarter valued at approximately $28,000. Osaic Holdings Inc. boosted its holdings in shares of Adeia by 714.9% in 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 during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock valued at $51,000 after purchasing an additional 1,781 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Trading Down 3.7%

NASDAQ ADEA opened at $26.13 on Thursday. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25. The company has a market capitalization of $2.88 billion, a PE ratio of 24.19 and a beta of 1.39. The company has a fifty day moving average of $28.38 and a 200 day moving average of $26.71.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $96.12 million for the quarter, compared to the consensus estimate of $96.79 million. Adeia had a return on equity of 39.26% and a net margin of 26.05%. Research analysts forecast that Adeia Inc. will post 1.17 earnings per share for the current year.

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, August 24th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Wall Street Analyst Weigh In

Several research firms have commented on ADEA. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised shares of Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. BWS Financial raised their price objective on Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Finally, Roth Capital reissued a “buy” rating and issued a $43.00 price target on shares of Adeia in a report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

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.