Pacer Advisors Inc. Sells 1,037,867 Shares of Adeia Inc. (NASDAQ:ADEA)

Pacer Advisors Inc. lessened its position in shares of Adeia Inc. (NASDAQ:ADEA) by 25.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,005,280 shares of the company’s stock after selling 1,037,867 shares during the period. Pacer Advisors Inc.’s holdings in Adeia were worth $42,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADEA. State Street Corp increased its holdings in shares of Adeia by 2.1% in the third quarter. State Street Corp now owns 4,346,537 shares of the company’s stock worth $51,767,000 after purchasing an additional 91,288 shares during the period. Harvey Partners LLC grew its position in Adeia by 5.8% during the third quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after buying an additional 168,000 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Adeia by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after acquiring an additional 159,254 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Adeia by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,616,073 shares of the company’s stock valued at $31,163,000 after acquiring an additional 78,135 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of 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 acquiring an additional 313,741 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several research analyst reports. BWS Financial restated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research report on Monday, January 13th. Rosenblatt Securities increased their price target on shares of Adeia from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, December 12th.

Adeia Price Performance

ADEA opened at $13.04 on Tuesday. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $1.42 billion, a P/E ratio of 36.22 and a beta of 1.39. The stock has a 50-day moving average price of $13.25 and a 200-day moving average price of $12.35. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $14.75.

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.