Adeia Inc. (NASDAQ:ADEA) Short Interest Update

Adeia Inc. (NASDAQ:ADEA) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 3,470,000 shares, a decrease of 6.5% from the August 31st total of 3,710,000 shares. Based on an average daily trading volume, of 467,500 shares, the days-to-cover ratio is presently 7.4 days. Currently, 3.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Adeia

Several institutional investors have recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Adeia during the second quarter worth $47,000. EMC Capital Management raised its stake in Adeia by 27.8% in the 1st quarter. EMC Capital Management now owns 10,856 shares of the company’s stock valued at $119,000 after purchasing an additional 2,360 shares during the last quarter. Algert Global LLC acquired a new position in Adeia in the 2nd quarter valued at about $122,000. Aristides Capital LLC purchased a new position in Adeia in the 1st quarter valued at about $213,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Adeia during the 2nd quarter worth about $227,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ADEA shares. BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Thursday, September 26th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price target on shares of Adeia in a research note on Thursday, June 20th.

Adeia Stock Down 1.4 %

ADEA opened at $11.74 on Wednesday. Adeia has a one year low of $8.11 and a one year high of $13.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.00 and a current ratio of 3.00. The stock has a market capitalization of $1.28 billion, a P/E ratio of 34.53 and a beta of 1.46. The business’s 50-day simple moving average is $11.68 and its 200-day simple moving average is $11.23.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Adeia had a net margin of 12.87% and a return on equity of 33.28%. The company had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Analysts anticipate that Adeia will post 1.18 EPS for the current year.

Adeia Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.20 annualized dividend and a yield of 1.70%. Adeia’s payout ratio is currently 58.83%.

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.