Adeia Inc. (NASDAQ:ADEA) Holdings Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its position in Adeia Inc. (NASDAQ:ADEA) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,600 shares of the company’s stock after selling 2,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Adeia were worth $626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ADEA. Innealta Capital LLC bought a new stake in shares of Adeia in the 2nd quarter valued at approximately $47,000. EMC Capital Management boosted its position in Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares during the period. Algert Global LLC acquired a new position in Adeia during the 2nd quarter valued at approximately $122,000. Aristides Capital LLC acquired a new position in Adeia during the 1st quarter valued at approximately $213,000. Finally, O Shaughnessy Asset Management LLC boosted its position in Adeia by 35.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after purchasing an additional 5,316 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ADEA has been the subject of a number of analyst reports. BWS Financial reiterated a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Thursday, September 26th. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Thursday, October 31st.

Adeia Stock Up 2.0 %

Shares of Adeia stock opened at $12.79 on Wednesday. The stock’s fifty day moving average is $12.08 and its 200-day moving average is $11.52. The firm has a market capitalization of $1.39 billion, a PE ratio of 31.98 and a beta of 1.44. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. Adeia Inc. has a 12-month low of $8.84 and a 12-month high of $13.39.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $87.35 million for the quarter, compared to analyst estimates of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. Equities analysts anticipate that Adeia Inc. will post 1.18 earnings per share for the current year.

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.