UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 23,330 Shares of Adeia Inc. (NASDAQ:ADEA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 13.7% in the 3rd quarter, Holdings Channel reports. The firm owned 147,486 shares of the company’s stock after selling 23,330 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Adeia were worth $1,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADEA. Dynamic Technology Lab Private Ltd bought a new stake in Adeia in the third quarter worth $253,000. Charles Schwab Investment Management Inc. increased 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 worth $11,498,000 after buying an additional 33,845 shares during the last quarter. Intech Investment Management LLC increased its holdings 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 worth $1,528,000 after buying an additional 97,815 shares during the last quarter. Quest Partners LLC raised its position 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 valued at $463,000 after buying an additional 38,803 shares in the last quarter. Finally, Seizert Capital Partners LLC bought a new position in shares of Adeia in the 3rd quarter valued at about $197,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. BWS Financial reissued a “buy” rating and set a $16.00 target price on shares of Adeia in a research report on Wednesday, December 4th.

Adeia Trading Up 1.6 %

Shares of ADEA opened at $14.61 on Tuesday. The company’s fifty day simple moving average is $12.43 and its 200-day simple moving average is $11.85. The company has a market cap of $1.60 billion, a P/E ratio of 40.58 and a beta of 1.42. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $14.75.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio (DPR) is currently 55.56%.

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.