Adeia Inc. $ADEA Shares Acquired by Irenic Capital Management LP

Irenic Capital Management LP lifted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 217.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 634,772 shares of the company’s stock after acquiring an additional 434,872 shares during the quarter. Adeia accounts for approximately 1.0% of Irenic Capital Management LP’s investment portfolio, making the stock its 24th biggest holding. Irenic Capital Management LP owned approximately 0.58% of Adeia worth $20,903,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Adeia during the second quarter worth approximately $573,267,000. Ameriprise Financial Inc. boosted its stake in shares of Adeia by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Adeia by 27.9% during the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after buying an additional 630,039 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Adeia by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock valued at $47,364,000 after acquiring an additional 13,412 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Adeia by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock valued at $48,299,000 after purchasing an additional 19,601 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Price Performance

ADEA stock opened at $26.50 on Friday. The business has a fifty day moving average of $27.61 and a two-hundred day moving average of $26.98. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 24.54 and a beta of 1.38. Adeia Inc. has a 52-week low of $11.61 and a 52-week high of $34.34.

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

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.20 dividend on an annualized basis and a yield of 0.8%. Adeia’s dividend payout ratio is presently 18.52%.

Analyst Upgrades and Downgrades

ADEA has been the topic of a number of analyst reports. Weiss Ratings downgraded Adeia from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. BWS Financial boosted their price target on shares of Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price objective on shares of Adeia in a report on Tuesday, August 4th. Finally, Wall Street Zen cut shares of Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.60.

Adeia Company 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.