Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its position in Adeia Inc. (NASDAQ:ADEA) by 55.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,638 shares of the company’s stock after acquiring an additional 1,291 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Adeia were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Highlander Capital Management LLC boosted its holdings in Adeia by 267.3% in the fourth 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. Carmel Capital Partners LLC purchased a new position in shares of Adeia in the 3rd quarter valued at about $33,000. Selway Asset Management purchased a new stake in shares of Adeia during the third quarter worth approximately $36,000. EMC Capital Management increased its stake in shares of Adeia by 2,732.0% during the third quarter. EMC Capital Management now owns 8,496 shares of the company’s stock worth $91,000 after buying an additional 8,196 shares during the period. Finally, Linden Thomas Advisory Services LLC purchased a new position in Adeia in the third quarter worth approximately $121,000. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADEA has been the topic of a number of recent analyst reports. Rosenblatt Securities initiated coverage on shares of Adeia in a research report on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective on the stock. BWS Financial reaffirmed a “buy” rating and set a $16.00 price target on shares of Adeia in a report on Friday, April 19th.

Adeia Price Performance

Shares of ADEA opened at $10.14 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.02 and a quick ratio of 2.02. Adeia Inc. has a 1-year low of $7.12 and a 1-year high of $13.39. The stock has a market cap of $1.10 billion, a PE ratio of 17.18 and a beta of 1.43. The firm has a fifty day moving average price of $10.84 and a 200 day moving average price of $10.69.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Adeia had a return on equity of 42.74% and a net margin of 17.33%. The company had revenue of $86.87 million for the quarter, compared to analyst estimates of $89.23 million. As a group, sell-side analysts anticipate that Adeia Inc. will post 1.18 EPS for the current year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, March 11th. Adeia’s payout ratio is currently 33.90%.

Adeia Profile

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.