Mutual of America Capital Management LLC Sells 11,301 Shares of Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC lessened its holdings in Adeia Inc. (NASDAQ:ADEA) by 2.6% during the third quarter, HoldingsChannel.com reports. The fund owned 427,914 shares of the company’s stock after selling 11,301 shares during the period. Mutual of America Capital Management LLC’s holdings in Adeia were worth $5,096,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADEA. Wedge Capital Management L L P NC increased its position in Adeia by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after purchasing an additional 875 shares in the last quarter. Gallacher Capital Management LLC lifted its stake in shares of 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 last quarter. ProShare Advisors LLC boosted its holdings in shares of Adeia by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock valued at $236,000 after acquiring an additional 1,483 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Adeia by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company’s stock worth $611,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Adeia by 0.6% during the 2nd quarter. Rhumbline Advisers now owns 321,762 shares of the company’s stock worth $3,599,000 after buying an additional 1,904 shares during the period. Institutional investors own 97.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADEA. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a report on Monday, November 11th.

Adeia Stock Performance

Shares of Adeia stock opened at $11.52 on Thursday. The business has a 50-day moving average price of $12.11 and a two-hundred day moving average price of $11.67. Adeia Inc. has a 1-year low of $9.05 and a 1-year high of $14.24. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a market cap of $1.26 billion, a P/E ratio of 32.00 and a beta of 1.44.

Adeia Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.74%. Adeia’s dividend payout ratio is currently 55.56%.

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.