JPMorgan Chase & Co. Buys 296,742 Shares of Adeia Inc. $ADEA

JPMorgan Chase & Co. increased its stake in Adeia Inc. (NASDAQ:ADEA) by 39.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,049,528 shares of the company’s stock after buying an additional 296,742 shares during the quarter. JPMorgan Chase & Co. owned about 0.96% of Adeia worth $17,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC raised its stake in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after acquiring an additional 1,988 shares during the period. Osaic Holdings Inc. raised its position in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Adeia in the third quarter worth about $56,000. Creative Planning bought a new stake in Adeia in the second quarter worth about $144,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Adeia during the second quarter valued at approximately $146,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADEA shares. UBS Group set a $20.00 price target on Adeia in a research note on Tuesday, December 23rd. Weiss Ratings upgraded Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. BWS Financial upped their price target on shares of Adeia from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Rosenblatt Securities lifted their price objective on shares of Adeia from $20.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Zacks Research cut shares of Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Adeia Stock Down 2.3%

NASDAQ:ADEA opened at $19.88 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $21.07. The company has a 50-day moving average of $18.66 and a 200 day moving average of $16.27. The firm has a market cap of $2.17 billion, a PE ratio of 20.29 and a beta of 1.41.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The business had revenue of $182.64 million during the quarter, compared to analyst estimates of $168.45 million. As a group, research analysts anticipate that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 16th. Adeia’s dividend payout ratio (DPR) is 20.41%.

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.