UBS Group AG Has $2.87 Million Stock Position in Adeia Inc. $ADEA

UBS Group AG reduced its position in Adeia Inc. (NASDAQ:ADEA) by 40.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 166,409 shares of the company’s stock after selling 114,982 shares during the period. UBS Group AG’s holdings in Adeia were worth $2,871,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in Adeia by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 14,509,642 shares of the company’s stock worth $205,166,000 after acquiring an additional 97,666 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Adeia by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,819,336 shares of the company’s stock worth $47,364,000 after acquiring an additional 13,412 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Adeia by 19.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,765,859 shares of the company’s stock worth $39,109,000 after acquiring an additional 448,274 shares during the last quarter. Boston Partners lifted its position in Adeia by 0.6% during the third quarter. Boston Partners now owns 2,479,151 shares of the company’s stock worth $41,577,000 after acquiring an additional 14,445 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Adeia by 39.4% during the third quarter. JPMorgan Chase & Co. now owns 1,049,528 shares of the company’s stock worth $17,632,000 after acquiring an additional 296,742 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADEA has been the subject of several research reports. BWS Financial restated a “buy” rating and set a $30.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Zacks Research upgraded shares of Adeia from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Adeia from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and set a $43.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Finally, Maxim Group set a $35.00 price objective on shares of Adeia in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $33.60.

Adeia Price Performance

Shares of ADEA opened at $26.86 on Tuesday. Adeia Inc. has a one year low of $11.61 and a one year high of $34.34. The company has a market cap of $2.96 billion, a P/E ratio of 24.87 and a beta of 1.48. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. The firm has a 50 day simple moving average of $27.15 and a two-hundred day simple moving average of $20.43.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. The business had revenue of $104.77 million during the quarter, compared to the consensus estimate of $99.72 million. Adeia had a net margin of 26.50% and a return on equity of 39.49%. Research analysts forecast that Adeia Inc. will post 1.15 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, May 26th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, May 26th. This represents a $0.20 annualized dividend and a yield of 0.7%. Adeia’s payout ratio is presently 18.52%.

About Adeia

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.