Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lifted its holdings in Adeia Inc. (NASDAQ:ADEA) by 18.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 110,734 shares of the company’s stock after purchasing an additional 16,937 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Adeia were worth $1,239,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its position in shares of Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock valued at $1,129,000 after buying an additional 875 shares in the last quarter. Gallacher Capital Management LLC grew its stake in Adeia by 5.2% in the 2nd quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock valued at $266,000 after acquiring an additional 1,186 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Adeia by 2.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock worth $687,000 after acquiring an additional 1,420 shares in the last quarter. ProShare Advisors LLC raised its position in Adeia by 7.4% during the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock worth $236,000 after acquiring an additional 1,483 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Adeia by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock valued at $611,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ADEA shares. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a research report on Thursday, June 20th. BWS Financial restated a “buy” rating and issued a $16.00 target price on shares of Adeia in a research report on Thursday, August 8th.

Adeia Stock Up 3.3 %

ADEA stock opened at $12.66 on Friday. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $11.63 and a two-hundred day moving average of $11.19. Adeia Inc. has a 12 month low of $8.11 and a 12 month high of $13.39. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 37.24 and a beta of 1.46.

Adeia (NASDAQ:ADEA) last issued its earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Adeia had a return on equity of 33.28% and a net margin of 12.87%. The company had revenue of $87.35 million during the quarter, compared to analysts’ expectations of $83.74 million. As a group, analysts forecast that Adeia Inc. will post 1.18 earnings per share for the current fiscal year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. Adeia’s dividend payout ratio is currently 58.83%.

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.