The Manufacturers Life Insurance Company Cuts Position in Adeia Inc. $ADEA

The Manufacturers Life Insurance Company decreased its stake in Adeia Inc. (NASDAQ:ADEA) by 23.9% in the 1st quarter, Holdings Channel reports. The firm owned 1,854,826 shares of the company’s stock after selling 581,970 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Adeia were worth $44,571,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in Adeia by 447.0% during the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after buying an additional 1,180 shares during the period. IFP Advisors Inc acquired a new stake in shares of Adeia during the 3rd quarter valued at approximately $28,000. Quarry LP boosted its stake in shares of Adeia by 245.5% during 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. GHP Investment Advisors Inc. purchased a new stake in shares of Adeia during the 1st quarter worth approximately $58,000. Finally, Osaic Holdings Inc. grew its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Trading Up 9.7%

Shares of ADEA opened at $25.40 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.44 and a quick ratio of 3.44. Adeia Inc. has a 1-year low of $11.61 and a 1-year high of $34.34. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 23.52 and a beta of 1.36. The firm has a 50 day simple moving average of $29.13 and a 200-day simple moving average of $25.47.

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

Adeia Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Tuesday, May 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 26th. Adeia’s payout ratio is 18.52%.

Analyst Ratings Changes

ADEA has been the subject of several research reports. Maxim Group set a $35.00 price objective on Adeia in a report on Wednesday, May 6th. Weiss Ratings lowered Adeia from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Zacks Research cut Adeia from a “hold” rating to a “strong sell” rating in a research report on Friday, July 3rd. Roth Capital reaffirmed a “buy” rating and set a $43.00 price target on shares of Adeia in a research note on Tuesday, May 5th. Finally, BWS Financial reiterated a “buy” rating and issued a $30.00 price objective on shares of Adeia in a research report on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.60.

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.