Adeia Inc. $ADEA Stake Cut by XTX Topco Ltd

XTX Topco Ltd lessened its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 57.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,819 shares of the company’s stock after selling 50,083 shares during the quarter. XTX Topco Ltd’s holdings in Adeia were worth $535,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in ADEA. Nuveen LLC purchased a new stake in shares of Adeia in the first quarter worth approximately $11,622,000. Invesco Ltd. increased its stake in Adeia by 122.2% in the 1st quarter. Invesco Ltd. now owns 961,356 shares of the company’s stock valued at $12,709,000 after buying an additional 528,617 shares during the period. JPMorgan Chase & Co. lifted its position in Adeia by 110.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 752,786 shares of the company’s stock worth $10,644,000 after buying an additional 395,462 shares in the last quarter. Jane Street Group LLC lifted its position in Adeia by 1,193.2% in the 1st quarter. Jane Street Group LLC now owns 348,961 shares of the company’s stock worth $4,613,000 after buying an additional 321,976 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Adeia by 55.3% during the 1st quarter. Public Sector Pension Investment Board now owns 423,485 shares of the company’s stock valued at $5,598,000 after acquiring an additional 150,757 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ:ADEA opened at $12.44 on Friday. The firm has a market capitalization of $1.36 billion, a PE ratio of 19.14 and a beta of 1.51. Adeia Inc. has a 1 year low of $10.59 and a 1 year high of $18.25. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. The firm’s fifty day simple moving average is $14.98 and its 200 day simple moving average is $14.52.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.08). The firm had revenue of $87.34 million for the quarter, compared to analyst estimates of $99.24 million. Adeia had a return on equity of 29.36% and a net margin of 19.32%. On average, sell-side analysts anticipate that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 24th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, November 24th. This represents a $0.20 annualized dividend and a yield of 1.6%. Adeia’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADEA. BWS Financial reaffirmed a “buy” rating and issued a $18.00 target price on shares of Adeia in a research report on Tuesday, November 4th. Zacks Research lowered shares of Adeia from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Rosenblatt Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Adeia in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Adeia in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.50.

Adeia 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.