Adeia Inc. $ADEA Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,215,048 shares of the company’s stock after selling 36,767 shares during the quarter. Neuberger Berman Group LLC owned approximately 2.94% of Adeia worth $54,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ADEA. CWM LLC boosted its stake in shares of Adeia by 436.0% during the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after buying an additional 2,309 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Adeia in the third quarter valued at $56,000. Creative Planning acquired a new stake in Adeia in the second quarter valued at $144,000. Finally, Corient Private Wealth LLC bought a new position in Adeia during the 2nd quarter valued at $146,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Down 5.4%

ADEA stock opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.81 and a quick ratio of 3.81. Adeia Inc. has a 1-year low of $10.59 and a 1-year high of $21.07. The firm has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $16.37. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 20.28 and a beta of 1.41.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Adeia had a net margin of 25.05% and a return on equity of 38.01%. The company had revenue of $182.64 million for the quarter, compared to analysts’ expectations of $168.45 million. Research analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 1.0%. Adeia’s dividend payout ratio is 20.41%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Maxim Group increased 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 Tuesday, December 23rd. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. BWS Financial boosted their price objective on Adeia from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, UBS Group set a $20.00 price objective on Adeia in a research note on Tuesday, December 23rd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.20.

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.