Skylands Capital LLC Purchases 74,943 Shares of Adeia Inc. $ADEA

Skylands Capital LLC increased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 572,243 shares of the company’s stock after buying an additional 74,943 shares during the quarter. Adeia accounts for about 1.3% of Skylands Capital LLC’s portfolio, making the stock its 21st biggest holding. Skylands Capital LLC’s holdings in Adeia were worth $9,871,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vident Advisory LLC grew its holdings in shares of Adeia by 2.6% during the second quarter. Vident Advisory LLC now owns 37,366 shares of the company’s stock worth $528,000 after buying an additional 937 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Adeia by 31.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,332 shares of the company’s stock worth $81,000 after buying an additional 1,033 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Adeia by 3.5% during the third quarter. Amalgamated Bank now owns 31,992 shares of the company’s stock worth $537,000 after buying an additional 1,070 shares in the last quarter. Quarry LP grew its holdings in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after buying an additional 1,127 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Adeia by 3.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,605 shares of the company’s stock worth $615,000 after buying an additional 1,176 shares in the last quarter. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $30.13 on Tuesday. The stock has a 50 day moving average price of $24.06 and a 200 day moving average price of $18.84. The stock has a market capitalization of $3.34 billion, a PE ratio of 30.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.81 and a current ratio of 3.81. Adeia Inc. has a 52 week low of $11.61 and a 52 week high of $30.70.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Adeia had a return on equity of 38.01% and a net margin of 25.05%.The firm had revenue of $182.64 million for the quarter, compared to the consensus estimate of $168.45 million. Analysts predict that Adeia Inc. will post 1.11 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, March 16th. Adeia’s payout ratio is currently 20.41%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wall Street Zen cut Adeia from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 11th. BWS Financial reissued a “buy” rating and set a $30.00 price target on shares of Adeia in a research report on Monday, March 9th. Roth Mkm increased their price target on Adeia from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Zacks Research cut Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $40.00 price target on shares of Adeia in a research report on Thursday, April 2nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Adeia presently has an average rating of “Moderate Buy” and an average target price of $28.80.

About Adeia

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.