Wellington Management Group LLP Has $56.38 Million Holdings in Adeia Inc. $ADEA

Wellington Management Group LLP increased its position in Adeia Inc. (NASDAQ:ADEA) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,712,143 shares of the company’s stock after acquiring an additional 75,520 shares during the quarter. Wellington Management Group LLP’s holdings in Adeia were worth $56,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADEA. BlackRock Inc. bought a new stake in Adeia during the second quarter valued at about $573,267,000. Ameriprise Financial Inc. increased its stake in shares of Adeia by 0.7% in the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after purchasing an additional 97,666 shares during the period. Systematic Financial Management LP increased its stake in shares of Adeia by 27.9% in the fourth quarter. Systematic Financial Management LP now owns 2,891,131 shares of the company’s stock worth $49,872,000 after purchasing an additional 630,039 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Adeia by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after purchasing an additional 13,412 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Adeia by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,799,445 shares of the company’s stock worth $48,299,000 after purchasing an additional 19,601 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Stock Up 1.9%

NASDAQ ADEA opened at $25.46 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.25 and a current ratio of 3.25. The firm has a 50-day simple moving average of $27.70 and a 200 day simple moving average of $26.99. Adeia Inc. has a twelve month low of $11.61 and a twelve month high of $34.34. The stock has a market cap of $2.81 billion, a PE ratio of 23.57 and a beta of 1.38.

Adeia (NASDAQ:ADEA) last released its earnings results on Monday, August 3rd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The business had revenue of $96.12 million for the quarter, compared to the consensus estimate of $96.79 million. On average, research analysts forecast that Adeia Inc. will post 1.17 EPS for the current year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, August 24th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADEA. BWS Financial raised their target price on Adeia from $30.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research raised Adeia from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, August 19th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $40.00 price objective on shares of Adeia in a research note on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Adeia currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.60.

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.