Prudent Man Advisors LLC Sells 1,624 Shares of Adeia Inc. (NASDAQ:ADEA)

Prudent Man Advisors LLC lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 10.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,658 shares of the company’s stock after selling 1,624 shares during the period. Prudent Man Advisors LLC’s holdings in Adeia were worth $191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. KBC Group NV lifted its stake in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock valued at $97,000 after acquiring an additional 2,977 shares during the period. Handelsbanken Fonder AB increased its position in shares of Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock valued at $319,000 after purchasing an additional 3,900 shares during the last quarter. Zacks Investment Management increased its position in shares of Adeia by 51.5% during the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company’s stock valued at $207,000 after purchasing an additional 5,902 shares during the last quarter. Empowered Funds LLC increased its position in shares of Adeia by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 132,316 shares of the company’s stock valued at $1,576,000 after purchasing an additional 6,700 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC purchased a new stake in shares of Adeia during the 4th quarter valued at about $142,000. Institutional investors own 97.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ADEA. 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 report on Wednesday, February 19th. Maxim Group upped their price target 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. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price target on shares of Adeia in a research report on Friday.

Adeia Trading Down 0.1 %

Adeia stock opened at $15.72 on Friday. The firm has a 50 day moving average of $13.79 and a 200 day moving average of $12.82. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 27.58 and a beta of 1.37. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $119.17 million during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.27 EPS. As a group, research analysts predict that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Monday, March 10th. Adeia’s dividend payout ratio is 35.09%.

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.