Adeia Inc. (NASDAQ:ADEA) Short Interest Update

Adeia Inc. (NASDAQ:ADEA) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 2,790,000 shares, a decrease of 9.4% from the May 31st total of 3,080,000 shares. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 468,100 shares, the days-to-cover ratio is currently 6.0 days.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ADEA shares. BWS Financial reissued a “buy” rating and set a $16.00 price target on shares of Adeia in a research report on Tuesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of Adeia in a report on Thursday, June 20th.

Adeia Stock Up 0.1 %

Shares of NASDAQ:ADEA opened at $11.20 on Tuesday. The firm’s 50 day moving average price is $11.11 and its 200 day moving average price is $11.34. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 32.94 and a beta of 1.47. Adeia has a fifty-two week low of $8.11 and a fifty-two week high of $13.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 6th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Adeia had a net margin of 11.06% and a return on equity of 33.89%. The firm had revenue of $83.41 million for the quarter, compared to analysts’ expectations of $83.55 million. As a group, equities research analysts predict that Adeia will post 1.2 earnings per share for the current fiscal year.

Adeia Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. Adeia’s dividend payout ratio is presently 58.83%.

Institutional Trading of Adeia

Several institutional investors have recently modified their holdings of ADEA. Highlander Capital Management LLC increased its holdings in shares of Adeia by 267.3% in the 4th quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after acquiring an additional 1,518 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Adeia by 55.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock worth $45,000 after buying an additional 1,291 shares in the last quarter. EMC Capital Management boosted its position in shares of Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after buying an additional 2,360 shares in the last quarter. Saxon Interests Inc. purchased a new stake in shares of Adeia in the 4th quarter worth about $183,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Adeia by 37.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,954 shares of the company’s stock worth $192,000 after buying an additional 4,935 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

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.