Adeia Inc. (NASDAQ:ADEA) Shares Sold by Centiva Capital LP

Centiva Capital LP trimmed its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 24.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,766 shares of the company’s stock after selling 8,434 shares during the quarter. Centiva Capital LP’s holdings in Adeia were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. LSV Asset Management lifted its holdings in Adeia by 11.6% during the 2nd quarter. LSV Asset Management now owns 3,755,894 shares of the company’s stock worth $42,010,000 after buying an additional 390,836 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Adeia by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after buying an additional 159,254 shares during the last quarter. Skylands Capital LLC lifted its holdings in Adeia by 99.7% during the 2nd quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock worth $2,327,000 after buying an additional 103,817 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Adeia by 320.5% during the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after buying an additional 97,815 shares during the last quarter. Finally, Select Equity Group L.P. lifted its holdings in Adeia by 12.6% during the 2nd quarter. Select Equity Group L.P. now owns 653,425 shares of the company’s stock worth $7,309,000 after buying an additional 73,204 shares during the last quarter. 97.36% of the stock is owned by institutional investors and hedge funds.

Adeia Stock Up 1.8 %

Adeia stock opened at $13.60 on Wednesday. Adeia Inc. has a fifty-two week low of $9.68 and a fifty-two week high of $14.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The company has a market capitalization of $1.49 billion, a P/E ratio of 37.78 and a beta of 1.42. The stock has a 50-day simple moving average of $12.28 and a 200-day simple moving average of $11.79.

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, November 27th. Adeia’s payout ratio is currently 55.56%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADEA. Rosenblatt Securities reaffirmed 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 issued a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th.

Adeia Company 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.