NewEdge Wealth LLC Raises Stake in Adeia Inc. $ADEA

NewEdge Wealth LLC lifted its stake in Adeia Inc. (NASDAQ:ADEA) by 36.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,878 shares of the company’s stock after purchasing an additional 22,027 shares during the period. NewEdge Wealth LLC owned about 0.08% of Adeia worth $1,992,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Adeia by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,701 shares of the company’s stock valued at $855,000 after buying an additional 2,829 shares during the period. Caxton Associates LLP purchased a new position in shares of Adeia during the first quarter worth approximately $174,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Adeia by 22.8% during the first 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 acquiring an additional 42,918 shares during the period. Jane Street Group LLC raised its stake in shares of Adeia by 1,193.2% during the first quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock valued at $4,613,000 after acquiring an additional 321,976 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Adeia during the first quarter valued at approximately $167,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ADEA shares. Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Adeia from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. BWS Financial reiterated a “buy” rating and issued a $30.00 target price on shares of Adeia in a report on Tuesday, May 5th. Finally, Roth Capital reissued a “buy” rating and set a $43.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Price Performance

Shares of ADEA stock opened at $25.95 on Friday. The stock’s 50-day moving average is $29.27 and its 200 day moving average is $25.23. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market cap of $2.86 billion, a P/E ratio of 24.03 and a beta of 1.36.

Adeia (NASDAQ:ADEA) last announced its 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 net margin of 26.50% and a return on equity of 39.49%. Research analysts predict that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

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

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.