Cibc World Markets Corp Makes New $142,000 Investment in Adeia Inc. (NASDAQ:ADEA)

Cibc World Markets Corp bought a new position in Adeia Inc. (NASDAQ:ADEA) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 10,182 shares of the company’s stock, valued at approximately $142,000.

Several other hedge funds have also recently made changes to their positions in ADEA. Jane Street Group LLC lifted its position in Adeia by 66.2% in the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after buying an additional 79,565 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Adeia by 20.6% in the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after acquiring an additional 3,900 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Adeia by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 995,908 shares of the company’s stock worth $13,923,000 after purchasing an additional 30,485 shares during the period. Harvey Partners LLC grew its holdings in Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after purchasing an additional 168,000 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Adeia by 51.9% during the third quarter. Barclays PLC now owns 228,967 shares of the company’s stock valued at $2,728,000 after buying an additional 78,276 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Performance

ADEA stock opened at $13.97 on Friday. The firm has a 50-day simple moving average of $14.02 and a two-hundred day simple moving average of $13.12. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. Adeia Inc. has a one year low of $9.68 and a one year high of $17.46. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 24.51 and a beta of 1.44.

Adeia (NASDAQ:ADEA) last announced its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period last year, the firm earned $0.27 earnings per share. On average, equities analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.43%. Adeia’s dividend payout ratio (DPR) is 35.09%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Maxim Group raised their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. BWS Financial increased their price objective on shares of Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Adeia in a research report on Friday, February 28th.

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.