Riverwater Partners LLC Grows Holdings in Adeia Inc. $ADEA

Riverwater Partners LLC boosted its stake in Adeia Inc. (NASDAQ:ADEA) by 79.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,498 shares of the company’s stock after acquiring an additional 109,184 shares during the period. Adeia accounts for approximately 1.6% of Riverwater Partners LLC’s holdings, making the stock its 8th biggest holding. Riverwater Partners LLC owned 0.23% of Adeia worth $4,252,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC raised its position in Adeia by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock worth $365,000 after buying an additional 656 shares during the last quarter. Redmond Asset Management LLC raised its position in Adeia by 0.4% in the 4th quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after buying an additional 727 shares during the last quarter. Vident Advisory LLC raised its position in Adeia by 2.6% in the 2nd quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after buying an additional 937 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Adeia by 31.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,332 shares of the company’s stock worth $81,000 after buying an additional 1,033 shares during the last quarter. Finally, Quarry LP raised its position in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ADEA shares. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Roth Mkm reissued a “buy” rating and issued a $43.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. Finally, Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Stock Up 5.7%

ADEA opened at $32.62 on Friday. 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 Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a market capitalization of $3.60 billion, a PE ratio of 30.20 and a beta of 1.40. The firm’s 50 day simple moving average is $28.73 and its two-hundred day simple moving average is $21.97.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share 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 for the quarter, compared to the consensus estimate of $99.72 million. As a group, equities analysts forecast that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 annualized dividend and a yield of 0.6%. Adeia’s dividend payout ratio (DPR) 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.