Public Sector Pension Investment Board Increases Stock Position in Adeia Inc. (NASDAQ:ADEA)

Public Sector Pension Investment Board increased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 238,718 shares of the company’s stock after buying an additional 16,321 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Adeia worth $2,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Adeia during the second quarter worth about $47,000. EMC Capital Management increased its holdings in Adeia by 27.8% during the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after purchasing an additional 2,360 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of Adeia in the 1st quarter valued at approximately $213,000. SG Americas Securities LLC acquired a new position in shares of Adeia in the 2nd quarter valued at approximately $227,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Adeia by 35.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock valued at $224,000 after buying an additional 5,316 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADEA shares. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Thursday. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 target price on shares of Adeia in a research report on Thursday, June 20th.

Adeia Price Performance

Shares of ADEA opened at $11.93 on Friday. Adeia Inc. has a 52 week low of $8.11 and a 52 week high of $13.39. 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 market cap of $1.30 billion, a price-to-earnings ratio of 35.09 and a beta of 1.46. The stock has a 50 day moving average of $11.68 and a 200-day moving average of $11.22.

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

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.20 annualized dividend and a yield of 1.68%. Adeia’s dividend payout ratio (DPR) is 58.83%.

About Adeia

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.