State of Wyoming Has $535,000 Position in Adeia Inc. $ADEA

State of Wyoming lowered its position in shares of Adeia Inc. (NASDAQ:ADEA) by 38.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,026 shares of the company’s stock after selling 19,179 shares during the quarter. State of Wyoming’s holdings in Adeia were worth $535,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC grew its holdings in Adeia by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock valued at $365,000 after purchasing an additional 656 shares during the period. Redmond Asset Management LLC grew its holdings in Adeia by 0.4% during the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock valued at $3,318,000 after purchasing an additional 727 shares during the period. Vident Advisory LLC grew its holdings in Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock valued at $528,000 after purchasing an additional 937 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Adeia by 31.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,332 shares of the company’s stock valued at $81,000 after purchasing an additional 1,033 shares during the period. Finally, Quarry LP grew 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 during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analyst Ratings Changes

ADEA has been the subject of a number of analyst reports. Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Roth Mkm restated a “buy” rating and set a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Stock Performance

Shares of ADEA opened at $28.98 on Friday. Adeia Inc. has a 12 month low of $11.61 and a 12 month high of $34.34. The firm has a fifty day simple moving average of $28.13 and a 200 day simple moving average of $21.36. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 26.83 and a beta of 1.40. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA) last announced its earnings results on Monday, May 4th. The company reported $0.38 EPS for the quarter, topping 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 business had revenue of $104.77 million during the quarter, compared to analysts’ expectations of $99.72 million. Research analysts forecast that Adeia Inc. will post 1.15 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, May 26th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s dividend payout ratio is presently 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.