The Manufacturers Life Insurance Company Has $24.26 Million Stake in Adeia Inc. (NASDAQ:ADEA)

The Manufacturers Life Insurance Company cut its position in Adeia Inc. (NASDAQ:ADEA) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,037,219 shares of the company’s stock after selling 17,442 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Adeia were worth $24,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in Adeia in the third quarter valued at approximately $253,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Adeia by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock valued at $11,498,000 after purchasing an additional 33,845 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Adeia by 320.5% in the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after purchasing an additional 97,815 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Adeia by 76,084.3% during the 3rd quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock worth $463,000 after buying an additional 38,803 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new stake in shares of Adeia during the 3rd quarter worth $197,000. Institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 0.7 %

NASDAQ ADEA opened at $12.12 on Friday. Adeia Inc. has a twelve month low of $9.05 and a twelve month high of $14.24. The business’s fifty day moving average is $12.11 and its 200 day moving average is $11.72. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 33.67 and a beta of 1.44.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

ADEA has been the subject of several research analyst reports. BWS Financial reissued a “buy” rating and set a $16.00 target price on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of Adeia in a research report on Friday, November 8th.

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.