Mutual of America Capital Management LLC Decreases Stake in Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC lowered its position in shares of Adeia Inc. (NASDAQ:ADEA) by 0.4% in the fourth quarter, Holdings Channel reports. The firm owned 426,199 shares of the company’s stock after selling 1,715 shares during the period. Mutual of America Capital Management LLC’s holdings in Adeia were worth $5,958,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ADEA. Bank of New York Mellon Corp lifted its position in Adeia by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company’s stock worth $15,715,000 after acquiring an additional 13,619 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Adeia by 20.6% during the 4th quarter. Handelsbanken Fonder AB now owns 22,800 shares of the company’s stock worth $319,000 after acquiring an additional 3,900 shares in the last quarter. Principal Financial Group Inc. lifted its position in Adeia by 3.3% during the 4th quarter. Principal Financial Group Inc. now owns 532,709 shares of the company’s stock worth $7,447,000 after acquiring an additional 17,130 shares in the last quarter. KBC Group NV lifted its position in Adeia by 74.6% during the 4th quarter. KBC Group NV now owns 6,968 shares of the company’s stock worth $97,000 after acquiring an additional 2,977 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC acquired a new position in Adeia during the 4th quarter worth approximately $142,000. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

Shares of ADEA opened at $15.03 on Tuesday. The business’s 50 day moving average is $13.79 and its two-hundred day moving average is $12.84. Adeia Inc. has a 52-week low of $9.68 and a 52-week high of $17.46. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 26.37 and a beta of 1.37. 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 announced its earnings results on Tuesday, February 18th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Adeia had a return on equity of 32.81% and a net margin of 17.19%. The company had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.22 million. During the same period in the prior year, the company posted $0.27 EPS. Analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

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

Analysts Set New Price Targets

ADEA has been the topic of several recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Adeia in a research report on Friday. BWS Financial upped their target price on Adeia from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Maxim Group upped their target price on Adeia from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

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.