Louisiana State Employees Retirement System Makes New $1.17 Million Investment in Adeia Inc. $ADEA

Louisiana State Employees Retirement System acquired a new stake in Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 48,600 shares of the company’s stock, valued at approximately $1,168,000.

Other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Adeia by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after purchasing an additional 2,829 shares during the period. Caxton Associates LLP purchased a new stake in Adeia during the 1st quarter worth $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Adeia by 22.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 231,421 shares of the company’s stock worth $3,059,000 after buying an additional 42,918 shares in the last quarter. Jane Street Group LLC boosted its position in Adeia by 1,193.2% in the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after buying an additional 321,976 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of Adeia during the first quarter valued at about $167,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of Adeia stock opened at $29.19 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.44 and a current ratio of 3.44. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The firm’s 50-day simple moving average is $30.06 and its 200-day simple moving average is $24.00. The firm has a market cap of $3.22 billion, a PE ratio of 27.03 and a beta of 1.36.

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

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is currently 18.52%.

Analysts Set New Price Targets

Several research analysts recently commented on ADEA shares. BWS Financial reiterated a “buy” rating and issued a $30.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities restated a “buy” rating and set a $40.00 price objective on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Maxim Group set a $35.00 price target on shares of Adeia in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.60.

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.