KLP Kapitalforvaltning AS Takes $347,000 Position in Adeia Inc. (NASDAQ:ADEA)

KLP Kapitalforvaltning AS acquired a new position in shares of Adeia Inc. (NASDAQ:ADEA) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 24,797 shares of the company’s stock, valued at approximately $347,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its position in shares of Adeia by 52.1% during the fourth quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock worth $39,000 after purchasing an additional 972 shares in the last quarter. KBC Group NV boosted its position in Adeia by 74.6% in the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after buying an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC acquired a new position in shares of Adeia in the fourth quarter worth $142,000. Cibc World Markets Corp purchased a new position in Adeia in the fourth quarter valued at $142,000. Finally, Hohimer Wealth Management LLC acquired a new position in shares of Adeia during the third quarter worth about $190,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ ADEA opened at $11.23 on Friday. The business has a 50 day moving average price of $13.98 and a 200 day moving average price of $13.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53. The company has a market capitalization of $1.22 billion, a P/E ratio of 19.70 and a beta of 1.47. Adeia Inc. has a 1-year low of $9.68 and a 1-year high of $17.46.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million for the quarter, compared to analysts’ expectations of $114.22 million. During the same quarter in the prior year, the firm earned $0.27 EPS. Sell-side analysts expect that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Monday, March 10th. Adeia’s dividend payout ratio is currently 35.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADEA shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Adeia in a research report on Friday, February 28th. BWS Financial lifted their price objective 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, Maxim Group upped their price objective 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 Company 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.