Victory Capital Management Inc. Trims Stake in Adeia Inc. (NASDAQ:ADEA)

Victory Capital Management Inc. lowered its position in Adeia Inc. (NASDAQ:ADEA) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,174 shares of the company’s stock after selling 3,632 shares during the period. Victory Capital Management Inc.’s holdings in Adeia were worth $1,610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Adeia in the second quarter worth about $47,000. EMC Capital Management grew its stake in shares of Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock worth $119,000 after buying an additional 2,360 shares during the last quarter. Algert Global LLC bought a new position in Adeia during the 2nd quarter valued at approximately $122,000. SG Americas Securities LLC purchased a new position in Adeia during the second quarter valued at $227,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Adeia by 35.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,480 shares of the company’s stock worth $224,000 after acquiring an additional 5,316 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

Shares of NASDAQ ADEA opened at $12.25 on Tuesday. The firm has a market cap of $1.34 billion, a P/E ratio of 33.47 and a beta of 1.44. Adeia Inc. has a twelve month low of $9.05 and a twelve month high of $14.24. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32. The company has a 50 day moving average of $12.13 and a 200 day moving average of $11.69.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 27th. Adeia’s dividend payout ratio is currently 55.56%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADEA shares. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Adeia in a report on Friday, November 8th. BWS Financial reissued a “buy” rating and set a $16.00 price objective on shares of Adeia in a research report on Monday, November 11th.

About Adeia

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.