Jupiter Topco LLC Acquires New Position in Adeia Inc. $ADEA

Jupiter Topco LLC bought a new position in Adeia Inc. (NASDAQ:ADEA) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 503,425 shares of the company’s stock, valued at approximately $16,578,000. Jupiter Topco LLC owned approximately 0.46% of Adeia at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its position in shares of Adeia by 447.0% in the fourth quarter. Hantz Financial Services Inc. now owns 1,444 shares of the company’s stock worth $25,000 after purchasing an additional 1,180 shares during the period. IFP Advisors Inc purchased a new stake in shares of Adeia in the third quarter worth $28,000. Quarry LP raised its position in shares of Adeia by 245.5% during the 3rd quarter. Quarry LP now owns 1,586 shares of the company’s stock valued at $27,000 after purchasing an additional 1,127 shares during the period. Allworth Financial LP purchased a new position in shares of Adeia during the 2nd quarter valued at $54,000. Finally, GHP Investment Advisors Inc. purchased a new position in shares of Adeia during the 1st quarter valued at $58,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ:ADEA opened at $25.72 on Friday. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 23.81 and a beta of 1.39. Adeia Inc. has a 1 year low of $11.61 and a 1 year high of $34.34. The stock’s 50 day simple moving average is $28.15 and its two-hundred day simple moving average is $26.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.25 and a quick ratio of 3.25.

Adeia (NASDAQ:ADEA) last posted its earnings results on Monday, August 3rd. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Adeia had a return on equity of 39.26% and a net margin of 26.05%.The firm had revenue of $96.12 million during the quarter, compared to the consensus estimate of $96.79 million. As a group, equities analysts anticipate that Adeia Inc. will post 1.17 earnings per share for the current fiscal year.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, August 24th will be paid 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 is Monday, August 24th. Adeia’s dividend payout ratio (DPR) is presently 18.52%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADEA. Wall Street Zen lowered Adeia from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. BWS Financial upped their price objective on Adeia from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Maxim Group set a $35.00 target price on Adeia in a research report on Wednesday, May 6th. Roth Capital reissued a “buy” rating and set a $43.00 target price on shares of Adeia in a research note on Tuesday, May 5th. Finally, Weiss Ratings raised Adeia from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Adeia currently has a consensus rating of “Moderate Buy” and an average target price of $37.60.

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.