Neuberger Berman Group LLC Reduces Holdings in Adeia Inc. (NASDAQ:ADEA)

Neuberger Berman Group LLC lessened its stake in Adeia Inc. (NASDAQ:ADEA) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,307,099 shares of the company’s stock after selling 8,311 shares during the period. Neuberger Berman Group LLC’s holdings in Adeia were worth $46,207,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADEA. Vanguard Group Inc. lifted its holdings in Adeia by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 14,423,573 shares of the company’s stock worth $201,642,000 after buying an additional 143,297 shares in the last quarter. State Street Corp boosted 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 valued at $51,767,000 after acquiring an additional 91,288 shares in the last quarter. Geode Capital Management LLC lifted its stake in Adeia by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,626,956 shares of the company’s stock valued at $36,734,000 after purchasing an additional 10,883 shares during the last quarter. Boston Partners lifted its position in shares of Adeia by 5.3% in the 4th quarter. Boston Partners now owns 2,563,814 shares of the company’s stock valued at $35,548,000 after acquiring an additional 129,922 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Adeia by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,124,075 shares of the company’s stock valued at $15,715,000 after acquiring an additional 13,619 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ADEA. BWS Financial increased their price target on shares of Adeia from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Adeia in a report on Friday, February 28th. Finally, Maxim Group lifted their price target on shares of Adeia from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th.

Adeia Stock Performance

Shares of ADEA opened at $12.55 on Thursday. The firm’s 50 day moving average price is $13.86 and its two-hundred day moving average price is $13.14. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.53 and a current ratio of 3.53. The firm has a market cap of $1.36 billion, a P/E ratio of 22.02 and a beta of 1.47. Adeia Inc. has a twelve month low of $9.68 and a twelve month high of $17.46.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Adeia had a net margin of 17.19% and a return on equity of 32.81%. The firm had revenue of $119.17 million for the quarter, compared to the consensus estimate of $114.22 million. During the same period in the previous year, the company earned $0.27 earnings per share. On average, analysts forecast that Adeia Inc. will post 1.09 EPS for the current fiscal year.

Adeia Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.20 annualized dividend and a yield of 1.59%. 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.