Public Sector Pension Investment Board Grows Stock Holdings in Adeia Inc. $ADEA

Public Sector Pension Investment Board grew its stake in Adeia Inc. (NASDAQ:ADEA) by 15.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 515,753 shares of the company’s stock after purchasing an additional 68,745 shares during the period. Public Sector Pension Investment Board owned approximately 0.47% of Adeia worth $8,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund boosted its stake in Adeia by 3.4% during the third quarter. Illinois Municipal Retirement Fund now owns 56,356 shares of the company’s stock worth $947,000 after buying an additional 1,877 shares during the last quarter. Skylands Capital LLC raised its holdings in shares of Adeia by 17.5% during the 3rd quarter. Skylands Capital LLC now owns 497,300 shares of the company’s stock worth $8,355,000 after acquiring an additional 74,076 shares during the period. Castlekeep Investment Advisors LLC boosted its position in shares of Adeia by 10.2% during the 3rd quarter. Castlekeep Investment Advisors LLC now owns 124,053 shares of the company’s stock valued at $2,084,000 after acquiring an additional 11,525 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Adeia by 9.2% in the third quarter. Envestnet Asset Management Inc. now owns 41,495 shares of the company’s stock valued at $697,000 after purchasing an additional 3,480 shares during the period. Finally, Riverwater Partners LLC acquired a new stake in Adeia during the third quarter worth about $2,307,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ADEA. Maxim Group boosted their target price on shares of Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Roth Mkm reiterated a “buy” rating on shares of Adeia in a report on Monday, December 22nd. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. BWS Financial raised their target price on Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, December 29th. Finally, UBS Group set a $20.00 price target on Adeia in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, Adeia presently has a consensus rating of “Buy” and an average price target of $22.00.

Adeia Trading Up 2.6%

NASDAQ ADEA opened at $18.80 on Tuesday. The firm has a 50 day simple moving average of $17.38 and a 200-day simple moving average of $15.83. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 28.92 and a beta of 1.44. 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 Inc. has a one year low of $10.59 and a one year high of $20.33.

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.