Renaissance Technologies LLC Sells 48,700 Shares of Adeia Inc. (NASDAQ:ADEA)

Renaissance Technologies LLC lowered its position in Adeia Inc. (NASDAQ:ADEA) by 5.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 840,043 shares of the company’s stock after selling 48,700 shares during the period. Renaissance Technologies LLC owned 0.77% of Adeia worth $11,744,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ADEA. Jane Street Group LLC lifted its stake in shares of Adeia by 66.2% in the 3rd quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock valued at $2,380,000 after purchasing an additional 79,565 shares during the period. Handelsbanken Fonder AB increased its holdings in Adeia by 20.6% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Adeia by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company’s stock valued at $13,923,000 after buying an additional 30,485 shares during the period. Barclays PLC boosted its holdings in shares of Adeia by 51.9% during the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock worth $2,728,000 after buying an additional 78,276 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new stake in shares of Adeia during the 4th quarter worth approximately $302,000. Institutional investors own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 target price on shares of Adeia in a research report on Friday, February 28th. BWS Financial reissued a “buy” rating and set a $18.00 price objective on shares of Adeia in a research report on Tuesday. Finally, Maxim Group boosted their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA stock opened at $12.10 on Wednesday. Adeia Inc. has a 12 month low of $9.68 and a 12 month high of $17.46. The firm has a market capitalization of $1.31 billion, a PE ratio of 21.23 and a beta of 1.47. The firm has a fifty day simple moving average of $13.80 and a two-hundred day simple moving average of $13.15. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results 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 analysts’ expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same quarter last year, the firm earned $0.27 EPS. Analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.65%. 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.