23,504 Shares in Adeia Inc. $ADEA Acquired by Oak Associates Ltd. OH

Oak Associates Ltd. OH bought a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,504 shares of the company’s stock, valued at approximately $565,000.

Other large investors have also recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its holdings in shares of Adeia by 2.5% in the first quarter. Ritholtz Wealth Management now owns 14,972 shares of the company’s stock valued at $360,000 after buying an additional 364 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Adeia by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 21,153 shares of the company’s stock worth $365,000 after purchasing an additional 656 shares during the period. Redmond Asset Management LLC raised its position in shares of Adeia by 0.4% during the fourth quarter. Redmond Asset Management LLC now owns 192,350 shares of the company’s stock worth $3,318,000 after purchasing an additional 727 shares during the period. Amundi lifted its holdings in shares of Adeia by 4.5% during the fourth quarter. Amundi now owns 19,003 shares of the company’s stock valued at $328,000 after purchasing an additional 827 shares during the last quarter. Finally, Vident Advisory LLC lifted 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 valued at $528,000 after purchasing an additional 937 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADEA shares. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Zacks Research cut shares of Adeia from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Maxim Group set a $35.00 target price on shares of Adeia in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, BWS Financial restated a “buy” rating and issued a $30.00 price target on shares of Adeia in a research report on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.60.

Adeia Price Performance

ADEA opened at $26.91 on Friday. The stock has a fifty day moving average price of $29.35 and a 200 day moving average price of $25.23. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.79. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 24.92 and a beta of 1.36.

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

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Adeia’s payout ratio is 18.52%.

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.