Adeia Inc. (NASDAQ:ADEA) Shares Sold by Skylands Capital LLC

Skylands Capital LLC lowered its holdings in Adeia Inc. (NASDAQ:ADEA) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,000 shares of the company’s stock after selling 800 shares during the quarter. Skylands Capital LLC owned 0.24% of Adeia worth $3,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC increased its stake in shares of Adeia by 66.2% in the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after acquiring an additional 79,565 shares during the period. Harvey Partners LLC increased its stake in shares of Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after acquiring an additional 168,000 shares during the period. Barclays PLC increased its stake in shares of Adeia by 51.9% in the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after acquiring an additional 78,276 shares during the period. Geode Capital Management LLC increased its stake in shares of Adeia by 3.1% in the third quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock worth $31,163,000 after acquiring an additional 78,135 shares during the period. Finally, Franklin Resources Inc. grew its position in Adeia by 21.9% during the third quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock valued at $1,185,000 after buying an additional 17,905 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Performance

ADEA opened at $17.23 on Monday. The company has a quick ratio of 3.42, a current ratio of 3.53 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 30.23 and a beta of 1.37. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The firm’s fifty day simple moving average is $13.58 and its two-hundred day simple moving average is $12.66.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period last year, the firm posted $0.27 earnings per share. Equities analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.16%. The ex-dividend date is Monday, March 10th. Adeia’s payout ratio is 35.09%.

Analyst Upgrades and Downgrades

ADEA has been the topic of several analyst reports. Maxim Group raised their price target on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. BWS Financial raised their price target on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $18.00 price target on shares of Adeia in a research report on Tuesday, February 18th.

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.