GAMMA Investing LLC Has $630,000 Stock Holdings in Adeia Inc. (NASDAQ:ADEA)

GAMMA Investing LLC boosted its position in shares of Adeia Inc. (NASDAQ:ADEA) by 2,291.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,632 shares of the company’s stock after buying an additional 45,640 shares during the quarter. GAMMA Investing LLC’s holdings in Adeia were worth $630,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADEA. Picton Mahoney Asset Management lifted its stake in shares of Adeia by 52.1% in the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after purchasing an additional 972 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Adeia by 5.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 19,441 shares of the company’s stock valued at $272,000 after purchasing an additional 989 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Adeia by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 64,990 shares of the company’s stock valued at $909,000 after purchasing an additional 1,804 shares during the period. Bank of Montreal Can lifted its stake in shares of Adeia by 16.7% in the 4th quarter. Bank of Montreal Can now owns 14,003 shares of the company’s stock valued at $196,000 after purchasing an additional 2,001 shares during the period. Finally, Swiss National Bank lifted its stake 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 purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

ADEA has been the topic of a number of analyst reports. Maxim Group increased their price target on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. BWS Financial restated a “buy” rating and issued a $18.00 price objective on shares of Adeia in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $17.00 price objective on shares of Adeia in a research report on Tuesday, May 6th.

Adeia Price Performance

ADEA stock opened at $13.06 on Thursday. The stock has a 50-day moving average price of $12.86 and a two-hundred day moving average price of $13.40. The stock has a market cap of $1.42 billion, a PE ratio of 19.79 and a beta of 1.59. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.13. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $17.46.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, May 27th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, May 27th. Adeia’s dividend payout ratio (DPR) is presently 30.30%.

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.