JPMorgan Chase & Co. Boosts Stock Position in Adeia Inc. $ADEA

JPMorgan Chase & Co. boosted its position in Adeia Inc. (NASDAQ:ADEA) by 39.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,049,528 shares of the company’s stock after acquiring an additional 296,742 shares during the period. JPMorgan Chase & Co.’s holdings in Adeia were worth $17,632,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ADEA. Assenagon Asset Management S.A. purchased a new position in Adeia during the 3rd quarter worth $3,353,000. Cresset Asset Management LLC acquired a new stake in Adeia in the second quarter worth about $1,874,000. Public Sector Pension Investment Board grew its stake in shares of Adeia by 15.4% during the third quarter. Public Sector Pension Investment Board now owns 515,753 shares of the company’s stock worth $8,665,000 after acquiring an additional 68,745 shares during the last quarter. Skylands Capital LLC grew its stake in shares of Adeia by 17.5% during the third quarter. Skylands Capital LLC now owns 497,300 shares of the company’s stock worth $8,355,000 after acquiring an additional 74,076 shares during the last quarter. Finally, Riverwater Partners LLC acquired a new position in shares of Adeia during the third quarter valued at about $2,307,000. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Down 2.3%

Adeia stock opened at $19.88 on Wednesday. The business’s 50-day moving average price is $18.66 and its 200 day moving average price is $16.27. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 20.29 and a beta of 1.41. Adeia Inc. has a 52 week low of $10.59 and a 52 week high of $21.07.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Monday, February 23rd. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. The business had revenue of $182.64 million for the quarter, compared to analyst estimates of $168.45 million. Adeia had a return on equity of 38.01% and a net margin of 25.05%. As a group, sell-side analysts anticipate that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, March 16th. Adeia’s dividend payout ratio (DPR) is currently 20.41%.

Analyst Ratings Changes

Several research firms have weighed in on ADEA. Weiss Ratings raised shares of Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 12th. Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Maxim Group raised their target price on Adeia from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Roth Mkm reiterated a “buy” rating on shares of Adeia in a research note on Monday, December 22nd. Finally, BWS Financial increased their price objective on Adeia from $24.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.20.

Adeia Company 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.