58,642 Shares in Adeia Inc. $ADEA Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC acquired a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 58,642 shares of the company’s stock, valued at approximately $1,409,000.

Other hedge funds also recently bought and sold shares of the company. Hantz Financial Services Inc. increased its stake in Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the period. Quarry LP boosted its stake in shares of Adeia by 245.5% during the third quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the period. IFP Advisors Inc purchased a new stake in shares of Adeia during the third quarter valued at $28,000. Osaic Holdings Inc. grew its holdings in shares of Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Adeia by 148.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,980 shares of the company’s stock worth $51,000 after purchasing an additional 1,781 shares during the last quarter. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Down 6.6%

Shares of ADEA stock traded down $1.93 on Tuesday, hitting $27.40. The stock had a trading volume of 257,048 shares, compared to its average volume of 1,539,998. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34. The business has a 50 day moving average price of $30.05 and a 200 day moving average price of $24.19. The company has a market cap of $3.02 billion, a PE ratio of 25.29 and a beta of 1.36. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 0.79.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. The company had revenue of $104.77 million for the quarter, compared to analysts’ expectations of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. Research analysts anticipate that Adeia Inc. will post 1.15 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, May 26th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Wall Street Analyst Weigh In

ADEA has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BWS Financial restated a “buy” rating and issued a $30.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Adeia in a research report on Tuesday, May 5th. Roth Capital reaffirmed a “buy” rating and set a $43.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price target on Adeia in a report on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $33.60.

Adeia Profile

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.