Hillsdale Investment Management Inc. Increases Stock Holdings in Adeia Inc. $ADEA

Hillsdale Investment Management Inc. raised its holdings in Adeia Inc. (NASDAQ:ADEA) by 12.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 488,103 shares of the company’s stock after buying an additional 53,900 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.45% of Adeia worth $8,200,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the last quarter. CWM LLC raised its holdings in shares of Adeia by 436.0% in the third quarter. CWM LLC now owns 2,444 shares of the company’s stock worth $41,000 after buying an additional 1,988 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Adeia during the third quarter worth $56,000. Creative Planning purchased a new stake in shares of Adeia during the second quarter valued at $144,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Adeia in the 2nd quarter valued at $146,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research upgraded Adeia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Rosenblatt Securities raised their price target on shares of Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Roth Mkm restated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Finally, BWS Financial increased their price objective on shares of Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.00.

Adeia Trading Up 2.6%

Adeia stock opened at $19.01 on Friday. The firm has a market cap of $2.08 billion, a PE ratio of 29.25 and a beta of 1.44. Adeia Inc. has a 12 month low of $10.59 and a 12 month high of $20.33. The stock’s 50 day simple moving average is $17.81 and its two-hundred day simple moving average is $15.96. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01.

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.