Swiss National Bank Has $2.61 Million Position in Adeia Inc. (NASDAQ:ADEA)

Swiss National Bank cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,446 shares of the company’s stock after selling 23,300 shares during the quarter. Swiss National Bank owned about 0.20% of Adeia worth $2,607,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Parkside Financial Bank & Trust boosted its stake in Adeia by 55.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock valued at $45,000 after purchasing an additional 1,291 shares during the period. Highlander Capital Management LLC boosted its stake in Adeia by 267.3% in the 4th quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after purchasing an additional 1,518 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Adeia by 0.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 438,048 shares of the company’s stock valued at $4,678,000 after purchasing an additional 2,227 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Adeia by 7.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,789 shares of the company’s stock valued at $510,000 after purchasing an additional 3,306 shares during the period. Finally, Raymond James & Associates boosted its stake in Adeia by 9.1% in the 3rd quarter. Raymond James & Associates now owns 56,705 shares of the company’s stock valued at $606,000 after purchasing an additional 4,732 shares during the period. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

NASDAQ:ADEA opened at $11.73 on Thursday. The stock has a fifty day moving average price of $10.67 and a 200-day moving average price of $11.01. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 34.50 and a beta of 1.43. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. Adeia Inc. has a fifty-two week low of $8.11 and a fifty-two week high of $13.39.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million during the quarter, compared to the consensus estimate of $89.23 million. Adeia had a return on equity of 33.89% and a net margin of 11.06%. As a group, equities analysts anticipate that Adeia Inc. will post 1.2 EPS for the current fiscal year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, May 24th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Adeia’s dividend payout ratio (DPR) is currently 58.83%.

Wall Street Analysts Forecast Growth

ADEA has been the subject of several recent research reports. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Tuesday, May 7th. Rosenblatt Securities began coverage on Adeia in a research report on Friday, February 23rd. They set a “buy” rating and a $15.00 target price for the company.

About Adeia

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.