Price T Rowe Associates Inc. MD Purchases 7,957 Shares of Adeia Inc. (NASDAQ:ADEA)

Price T Rowe Associates Inc. MD raised its position in Adeia Inc. (NASDAQ:ADEA) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 97,170 shares of the company’s stock after purchasing an additional 7,957 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Adeia were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Adeia in the fourth quarter valued at about $33,000. Picton Mahoney Asset Management grew its position in shares of Adeia by 52.1% during the 4th 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 increased its holdings in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after purchasing an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC acquired a new stake in shares of Adeia in the fourth quarter valued at approximately $142,000. Finally, Cibc World Markets Corp bought a new stake in shares of Adeia in the fourth quarter valued at approximately $142,000. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ADEA shares. BWS Financial restated a “buy” rating and set a $18.00 price objective on shares of Adeia in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $17.00 price target on shares of Adeia in a research note on Tuesday. Finally, Maxim Group increased their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Adeia Trading Down 1.2 %

Shares of ADEA stock opened at $13.35 on Friday. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $17.46. The stock’s fifty day moving average price is $12.93 and its two-hundred day moving average price is $13.20. 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 $1.45 billion, a PE ratio of 23.42 and a beta of 1.57.

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

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, May 27th. Adeia’s payout ratio is 35.09%.

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.