Brandywine Global Investment Management LLC Sells 14,910 Shares of Adeia Inc. (NASDAQ:ADEA)

Brandywine Global Investment Management LLC trimmed its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 327,954 shares of the company’s stock after selling 14,910 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Adeia were worth $4,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADEA. Picton Mahoney Asset Management increased its position in Adeia by 52.1% during the 4th quarter. Picton Mahoney Asset Management now owns 2,836 shares of the company’s stock valued at $39,000 after purchasing an additional 972 shares during the period. KBC Group NV increased its position in shares of Adeia by 74.6% during the fourth quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after buying an additional 2,977 shares during the period. Linden Thomas Advisory Services LLC bought a new position in Adeia during the fourth quarter worth $142,000. Cibc World Markets Corp acquired a new position in Adeia in the fourth quarter valued at $142,000. Finally, EntryPoint Capital LLC bought a new stake in Adeia during the fourth quarter valued at $168,000. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Performance

Shares of ADEA opened at $13.42 on Wednesday. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The company has a market cap of $1.46 billion, a PE ratio of 23.54 and a beta of 1.44. The stock has a 50-day moving average of $14.04 and a 200-day moving average of $13.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.53 and a quick ratio of 3.53.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The firm had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities research analysts predict that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, March 10th. Adeia’s dividend payout ratio (DPR) is 35.09%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BWS Financial boosted their price objective on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price target on shares of Adeia in a research note on Friday, February 28th. Finally, Maxim Group raised their price objective on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

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.