Parkside Financial Bank & Trust Acquires 1,291 Shares of Adeia Inc. (NASDAQ:ADEA)

Parkside Financial Bank & Trust increased its position in Adeia Inc. (NASDAQ:ADEA) by 55.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,638 shares of the company’s stock after acquiring an additional 1,291 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Adeia were worth $45,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Adeia by 1.7% during the third quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after acquiring an additional 233,675 shares in the last quarter. Rubric Capital Management LP grew its position in Adeia by 1.0% during the 3rd quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock valued at $49,555,000 after purchasing an additional 47,448 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Adeia by 35.4% during the 4th quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock valued at $42,820,000 after acquiring an additional 903,568 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Adeia by 4.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company’s stock valued at $26,079,000 after acquiring an additional 97,792 shares during the period. Finally, LSV Asset Management lifted its stake in Adeia by 36.4% during the 3rd quarter. LSV Asset Management now owns 1,700,001 shares of the company’s stock valued at $18,156,000 after acquiring an additional 453,601 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Down 0.1 %

Shares of ADEA opened at $10.14 on Friday. Adeia Inc. has a 52-week low of $7.12 and a 52-week high of $13.39. The company has a market cap of $1.10 billion, a PE ratio of 17.18 and a beta of 1.43. The business has a fifty day moving average of $10.84 and a 200 day moving average of $10.69. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $86.87 million during the quarter, compared to the consensus estimate of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. On average, sell-side analysts expect that Adeia Inc. will post 1.18 EPS for the current year.

Adeia Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Tuesday, March 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, March 11th. Adeia’s dividend payout ratio (DPR) is 33.90%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. BWS Financial reissued a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Friday, April 19th. Rosenblatt Securities initiated coverage on shares of Adeia in a report on Friday, February 23rd. They issued a “buy” rating and a $15.00 target price for the company.

Adeia Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.