Corebridge Financial Inc. Has $810,000 Holdings in Adeia Inc. (NASDAQ:ADEA)

Corebridge Financial Inc. trimmed its position in shares of Adeia Inc. (NASDAQ:ADEA) by 7.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 57,946 shares of the company’s stock after selling 4,511 shares during the period. Corebridge Financial Inc.’s holdings in Adeia were worth $810,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADEA. Charles Schwab Investment Management Inc. boosted its stake in Adeia by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock valued at $11,498,000 after purchasing an additional 33,845 shares during the last quarter. State Street Corp lifted its holdings in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock valued at $51,767,000 after purchasing an additional 91,288 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Adeia by 1.7% during the third quarter. Wellington Management Group LLP now owns 1,096,117 shares of the company’s stock valued at $13,055,000 after buying an additional 18,664 shares during the last quarter. Jane Street Group LLC grew its holdings in Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after buying an additional 79,565 shares in the last quarter. Finally, Zacks Investment Management raised its position in Adeia by 51.5% in the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after buying an additional 5,902 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $20.00 target price on shares of Adeia in a report on Friday, February 28th. BWS Financial upped their price objective on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Maxim Group lifted their target price on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA stock opened at $11.23 on Friday. The firm’s 50-day simple moving average is $13.98 and its two-hundred day simple moving average is $13.17. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. Adeia Inc. has a 52 week low of $9.68 and a 52 week high of $17.46. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 19.70 and a beta of 1.47.

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

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 10th. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. Adeia’s dividend payout ratio (DPR) is 35.09%.

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.