Lazard Asset Management LLC Increases Holdings in Adeia Inc. $ADEA

Lazard Asset Management LLC boosted its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 7.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 335,825 shares of the company’s stock after buying an additional 23,962 shares during the period. Lazard Asset Management LLC owned 0.30% of Adeia worth $8,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in shares of Adeia in the 3rd quarter valued at about $3,259,000. Denali Advisors LLC acquired a new stake in shares of Adeia in the fourth quarter valued at approximately $833,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Adeia by 20.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 219,747 shares of the company’s stock worth $3,810,000 after acquiring an additional 37,749 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Adeia by 13,439.1% during the first quarter. Fifth Third Bancorp now owns 56,052 shares of the company’s stock worth $1,347,000 after acquiring an additional 55,638 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in shares of Adeia by 45.8% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 584,464 shares of the company’s stock valued at $10,082,000 after acquiring an additional 183,670 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Trading Up 9.7%

ADEA opened at $25.40 on Friday. The business’s 50 day moving average price is $29.13 and its 200 day moving average price is $25.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. The stock has a market capitalization of $2.80 billion, a PE ratio of 23.52 and a beta of 1.36. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The business had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. As a group, equities research analysts expect that Adeia Inc. will post 1.15 EPS for the current year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. Adeia’s dividend payout ratio is currently 18.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADEA. Roth Capital restated a “buy” rating and issued a $43.00 price objective on shares of Adeia in a report on Tuesday, May 5th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a research note on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Adeia presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

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.