Cibc World Markets Corp Makes New Investment in Adeia Inc. (NASDAQ:ADEA)

Cibc World Markets Corp purchased a new stake in shares of Adeia Inc. (NASDAQ:ADEA) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,182 shares of the company’s stock, valued at approximately $142,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADEA. Picton Mahoney Asset Management increased its holdings in Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after buying an additional 972 shares during the period. Swiss National Bank boosted its holdings in shares of Adeia by 1.1% in the 4th quarter. Swiss National Bank now owns 214,246 shares of the company’s stock valued at $2,995,000 after acquiring an additional 2,300 shares during the last quarter. KBC Group NV increased its stake in shares of Adeia by 74.6% in the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after acquiring an additional 2,977 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Adeia by 20.6% during the fourth quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Zacks Investment Management lifted its position in Adeia by 51.5% during the third quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after purchasing an additional 5,902 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Trading Down 0.3 %

Shares of Adeia stock opened at $13.97 on Friday. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The company has a market cap of $1.50 billion, a P/E ratio of 24.51 and a beta of 1.44. The firm has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $13.12.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, equities analysts predict that Adeia Inc. will post 1.09 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.43%. Adeia’s dividend payout ratio is currently 35.09%.

Analyst Upgrades and Downgrades

ADEA has been the subject of a number of recent research reports. BWS Financial lifted their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Adeia in a research report on Friday, February 28th. Finally, Maxim Group upped their price objective on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

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.