Adeia Inc. $ADEA is Riverwater Partners LLC’s 8th Largest Position

Riverwater Partners LLC increased its position in Adeia Inc. (NASDAQ:ADEA) by 79.5% in the 4th quarter, HoldingsChannel reports. The fund owned 246,498 shares of the company’s stock after buying an additional 109,184 shares during the quarter. Adeia makes up about 1.6% of Riverwater Partners LLC’s holdings, making the stock its 8th largest holding. Riverwater Partners LLC’s holdings in Adeia were worth $4,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its holdings in Adeia by 447.0% in the 4th quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after acquiring an additional 1,180 shares in the last quarter. IFP Advisors Inc purchased a new stake in Adeia in the 3rd quarter worth approximately $28,000. Quarry LP increased its holdings in Adeia by 245.5% in the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock worth $27,000 after acquiring an additional 1,127 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Adeia by 714.9% in the 2nd quarter. Osaic Holdings Inc. now owns 2,632 shares of the company’s stock worth $37,000 after acquiring an additional 2,309 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Adeia in the 3rd quarter worth approximately $56,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Trading Up 5.7%

ADEA stock opened at $32.62 on Friday. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. 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 company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 30.20 and a beta of 1.40. The business has a 50 day simple moving average of $28.73 and a two-hundred day simple moving average of $21.97.

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

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, May 26th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, May 26th. Adeia’s dividend payout ratio is presently 18.52%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $43.00 target price on shares of Adeia in a report on Tuesday, May 5th. Rosenblatt Securities reissued a “buy” rating and issued a $40.00 target price on shares of Adeia in a report on Tuesday, May 5th. Wall Street Zen downgraded Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded Adeia from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, Zacks Research downgraded Adeia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Adeia has an average rating of “Moderate Buy” and an average price target of $33.60.

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.