Thrivent Financial for Lutherans Cuts Stock Position in Adeia Inc. (NASDAQ:ADEA)

Thrivent Financial for Lutherans decreased its position in shares of Adeia Inc. (NASDAQ:ADEA) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 84,456 shares of the company’s stock after selling 1,065 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Adeia were worth $1,181,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Adeia during the 3rd quarter valued at $8,412,000. Systematic Financial Management LP increased its position in Adeia by 17.0% during the 3rd quarter. Systematic Financial Management LP now owns 2,160,201 shares of the company’s stock valued at $25,728,000 after buying an additional 313,741 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Adeia in the fourth quarter valued at about $2,470,000. Harvey Partners LLC boosted its holdings in Adeia by 5.8% in the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after acquiring an additional 168,000 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Adeia by 2.1% during the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after acquiring an additional 91,288 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on ADEA shares. Maxim Group increased their price objective on shares of Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. BWS Financial upped their price target 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 reiterated a “buy” rating and set a $20.00 price objective on shares of Adeia in a research note on Friday, February 28th.

Adeia Trading Down 0.2 %

Shares of NASDAQ:ADEA opened at $13.22 on Tuesday. The business has a 50-day moving average price of $14.04 and a 200-day moving average price of $13.16. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 23.19 and a beta of 1.44. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a net margin of 17.19% and a return on equity of 32.81%. During the same period in the previous year, the business posted $0.27 EPS. Equities analysts predict that Adeia Inc. will post 1.09 EPS for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 10th. Adeia’s payout ratio is 35.09%.

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.