Adeia Inc. $ADEA Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its holdings in Adeia Inc. (NASDAQ:ADEA) by 15.4% during the third quarter, HoldingsChannel reports. The fund owned 515,753 shares of the company’s stock after purchasing an additional 68,745 shares during the period. Public Sector Pension Investment Board’s holdings in Adeia were worth $8,665,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its stake in Adeia by 714.9% in the second quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock valued at $37,000 after purchasing an additional 2,309 shares during the last quarter. CWM LLC boosted its holdings in shares of Adeia by 436.0% in the 3rd quarter. CWM LLC now owns 2,444 shares of the company’s stock valued at $41,000 after buying an additional 1,988 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Adeia in the 3rd quarter valued at $56,000. Creative Planning acquired a new stake in Adeia during the 2nd quarter worth $144,000. Finally, Corient Private Wealth LLC purchased a new stake in Adeia in the second quarter valued at $146,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ADEA. BWS Financial raised their price objective on Adeia from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, December 29th. UBS Group set a $20.00 price target on Adeia in a research note on Tuesday, December 23rd. Rosenblatt Securities boosted their price objective on Adeia from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Zacks Research raised Adeia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.00.

Adeia Trading Up 2.6%

Shares of ADEA stock opened at $18.80 on Tuesday. The company has a market capitalization of $2.06 billion, a P/E ratio of 28.92 and a beta of 1.44. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $17.38 and its two-hundred day moving average is $15.83. Adeia Inc. has a twelve month low of $10.59 and a twelve month high of $20.33.

Adeia Profile

Adeia Inc (NASDAQ: ADEA) is a technology licensing company that focuses on acquiring, managing and monetizing intellectual property assets in the electronics and communications sectors. The company’s core business involves the strategic purchase of patent portfolios followed by the negotiation of licensing agreements, collaborative partnerships and, where necessary, enforcement actions to generate revenue from those assets. Adeia’s technology coverage spans semiconductor design, data communications, wireless networking, imaging systems and other advanced electronics applications.

By assembling a diversified collection of high-value patent families, Adeia works closely with original equipment manufacturers, semiconductor suppliers and service providers across North America, Europe and Asia.