Adeia Inc. (NASDAQ:ADEA) Shares Bought by Harvey Partners LLC

Harvey Partners LLC grew its position in Adeia Inc. (NASDAQ:ADEA) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,052,000 shares of the company’s stock after buying an additional 168,000 shares during the quarter. Adeia makes up about 4.1% of Harvey Partners LLC’s portfolio, making the stock its 5th largest holding. Harvey Partners LLC’s holdings in Adeia were worth $36,349,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Martingale Asset Management L P increased its position in Adeia by 49.5% during the 3rd quarter. Martingale Asset Management L P now owns 56,321 shares of the company’s stock worth $671,000 after purchasing an additional 18,652 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Adeia during the third quarter valued at approximately $253,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Adeia by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock worth $11,498,000 after buying an additional 33,845 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Adeia by 320.5% during the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock worth $1,528,000 after buying an additional 97,815 shares during the period. Finally, Quest Partners LLC boosted its holdings in Adeia by 76,084.3% in the third quarter. Quest Partners LLC now owns 38,854 shares of the company’s stock valued at $463,000 after acquiring an additional 38,803 shares during the last quarter. 97.36% of the stock is currently owned by hedge funds and other institutional investors.

Adeia Stock Up 3.2 %

ADEA stock opened at $12.51 on Tuesday. The company has a market capitalization of $1.37 billion, a P/E ratio of 34.75 and a beta of 1.42. The firm has a 50 day simple moving average of $12.11 and a 200-day simple moving average of $11.73. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. Adeia Inc. has a twelve month low of $9.40 and a twelve month high of $14.24.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, November 27th. Adeia’s payout ratio is 55.56%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADEA. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Adeia in a research note on Friday, November 8th. BWS Financial reaffirmed a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Monday, November 11th.

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.