Adeia Inc. (NASDAQ:ADEA) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC raised its stake in Adeia Inc. (NASDAQ:ADEA) by 66.2% in the third quarter, HoldingsChannel.com reports. The fund owned 199,812 shares of the company’s stock after buying an additional 79,565 shares during the quarter. Jane Street Group LLC’s holdings in Adeia were worth $2,380,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Adeia in the 2nd quarter valued at about $47,000. Algert Global LLC bought a new position in Adeia in the 2nd quarter worth approximately $122,000. Seizert Capital Partners LLC acquired a new stake in Adeia in the 3rd quarter valued at approximately $197,000. Dynamic Technology Lab Private Ltd bought a new stake in Adeia during the 3rd quarter valued at $253,000. Finally, Gallacher Capital Management LLC boosted its position in Adeia by 5.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock worth $266,000 after acquiring an additional 1,186 shares during the period. 97.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADEA has been the topic of a number of recent analyst reports. BWS Financial restated a “buy” rating and set a $16.00 price target on shares of Adeia in a research 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 report on Thursday, December 12th.

Adeia Stock Performance

Shares of ADEA opened at $13.66 on Monday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 37.94 and a beta of 1.42. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $14.75. The firm’s 50 day moving average is $12.66 and its 200-day moving average is $11.93. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42.

Adeia Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Wednesday, November 27th. Adeia’s payout ratio is 55.56%.

Adeia 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.