Illinois Municipal Retirement Fund Sells 11,097 Shares of Adeia Inc. (NASDAQ:ADEA)

Illinois Municipal Retirement Fund lowered its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 17.9% during the fourth quarter, HoldingsChannel reports. The firm owned 50,806 shares of the company’s stock after selling 11,097 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Adeia were worth $710,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jane Street Group LLC raised its position in Adeia by 66.2% during the third quarter. Jane Street Group LLC now owns 199,812 shares of the company’s stock worth $2,380,000 after acquiring an additional 79,565 shares in the last quarter. Harvey Partners LLC increased its stake in shares of Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock worth $36,349,000 after purchasing an additional 168,000 shares during the last quarter. Barclays PLC raised its holdings in shares of Adeia by 51.9% in the 3rd quarter. Barclays PLC now owns 228,967 shares of the company’s stock valued at $2,728,000 after purchasing an additional 78,276 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 78,135 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Adeia by 21.9% in the 3rd quarter. Franklin Resources Inc. now owns 99,760 shares of the company’s stock valued at $1,185,000 after purchasing an additional 17,905 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Trading Down 4.4 %

Shares of ADEA stock opened at $15.03 on Tuesday. Adeia Inc. has a 12-month low of $9.68 and a 12-month high of $17.46. The company has a market capitalization of $1.62 billion, a PE ratio of 26.37 and a beta of 1.37. The firm has a 50 day moving average price of $13.79 and a two-hundred day moving average price of $12.84. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.15.

Adeia (NASDAQ:ADEA) last released its quarterly earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $119.17 million during the quarter, compared to analysts’ expectations of $114.22 million. Adeia had a return on equity of 32.81% and a net margin of 17.19%. During the same period last year, the firm posted $0.27 EPS. As a group, analysts predict that Adeia Inc. will post 1.09 earnings per share for the current year.

Adeia Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. Adeia’s dividend payout ratio (DPR) is presently 35.09%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADEA. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Adeia in a research report on Friday. Maxim Group boosted their target price on Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, BWS Financial raised their price target on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

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.