Wellington Management Group LLP Acquires 18,664 Shares of Adeia Inc. (NASDAQ:ADEA)

Wellington Management Group LLP lifted its stake in Adeia Inc. (NASDAQ:ADEA) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 1,096,117 shares of the company’s stock after purchasing an additional 18,664 shares during the quarter. Wellington Management Group LLP’s holdings in Adeia were worth $13,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Select Equity Group L.P. raised its stake in Adeia by 12.6% during the second quarter. Select Equity Group L.P. now owns 653,425 shares of the company’s stock valued at $7,309,000 after buying an additional 73,204 shares during the last quarter. Harvey Partners LLC increased its holdings in shares of Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after acquiring an additional 168,000 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Adeia by 243.7% in the 3rd quarter. SG Americas Securities LLC now owns 69,627 shares of the company’s stock worth $829,000 after purchasing an additional 49,367 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Adeia by 24.1% in the 2nd quarter. Mackenzie Financial Corp now owns 68,340 shares of the company’s stock worth $764,000 after purchasing an additional 13,290 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Adeia during the 2nd quarter valued at about $689,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

NASDAQ ADEA opened at $14.38 on Friday. Adeia Inc. has a one year low of $9.68 and a one year high of $14.50. The stock has a 50-day moving average of $12.43 and a 200 day moving average of $11.84. 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 $1.57 billion, a price-to-earnings ratio of 39.94 and a beta of 1.42.

Adeia Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. Adeia’s payout ratio is 55.56%.

Analyst Ratings Changes

Several research analysts have issued reports on ADEA shares. BWS Financial reaffirmed a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th. Rosenblatt Securities upped their price objective on Adeia from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday.

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.