Castlekeep Investment Advisors LLC Sells 12,936 Shares of Adeia Inc. $ADEA

Castlekeep Investment Advisors LLC decreased its position in Adeia Inc. (NASDAQ:ADEA) by 10.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,528 shares of the company’s stock after selling 12,936 shares during the quarter. Adeia accounts for 0.8% of Castlekeep Investment Advisors LLC’s portfolio, making the stock its 28th largest position. Castlekeep Investment Advisors LLC owned about 0.10% of Adeia worth $1,591,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new stake in Adeia in the 1st quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Adeia in the first quarter valued at approximately $43,000. Brooklyn Investment Group bought a new stake in Adeia in the first quarter valued at approximately $44,000. GAMMA Investing LLC lifted its position in Adeia by 80.9% in the first quarter. GAMMA Investing LLC now owns 3,603 shares of the company’s stock valued at $48,000 after purchasing an additional 1,611 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Adeia by 14.2% in the first quarter. Nisa Investment Advisors LLC now owns 8,565 shares of the company’s stock valued at $113,000 after purchasing an additional 1,062 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BWS Financial reiterated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research report on Monday, October 6th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Adeia in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Adeia currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Adeia Price Performance

Shares of Adeia stock opened at $17.04 on Friday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 1.06. The company has a market cap of $1.86 billion, a PE ratio of 23.03 and a beta of 1.74. The business has a 50 day moving average of $16.35 and a 200 day moving average of $14.51. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $18.25.

Adeia Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.