Adeia Inc. (NASDAQ:ADEA) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Adeia Inc. (NASDAQ:ADEA) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 596,034 shares of the company’s stock after acquiring an additional 7,850 shares during the period. Principal Financial Group Inc. owned approximately 0.55% of Adeia worth $6,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Highlander Capital Management LLC boosted its stake in Adeia by 267.3% in the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock valued at $26,000 after acquiring an additional 1,518 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Adeia by 55.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,638 shares of the company’s stock worth $45,000 after buying an additional 1,291 shares during the last quarter. Saxon Interests Inc. purchased a new position in shares of Adeia in the fourth quarter worth $183,000. PNC Financial Services Group Inc. raised its holdings in shares of Adeia by 37.9% in the third quarter. PNC Financial Services Group Inc. now owns 17,954 shares of the company’s stock worth $192,000 after buying an additional 4,935 shares during the last quarter. Finally, Carmel Capital Partners LLC raised its holdings in shares of Adeia by 790.4% in the fourth quarter. Carmel Capital Partners LLC now owns 27,316 shares of the company’s stock worth $338,000 after buying an additional 24,248 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Performance

Shares of Adeia stock traded up $0.06 during trading on Friday, hitting $11.22. 98,898 shares of the company’s stock were exchanged, compared to its average volume of 506,392. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.23 and a current ratio of 2.23. The business has a 50-day simple moving average of $11.16 and a 200-day simple moving average of $11.34. Adeia Inc. has a 52-week low of $8.11 and a 52-week high of $13.39. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 32.82 and a beta of 1.47.

Adeia (NASDAQ:ADEA) last issued its earnings results on Monday, May 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. Adeia had a net margin of 11.06% and a return on equity of 33.89%. The firm had revenue of $83.41 million during the quarter, compared to analysts’ expectations of $83.55 million. On average, research analysts forecast that Adeia Inc. will post 1.2 EPS for the current year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, May 28th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. Adeia’s dividend payout ratio (DPR) is presently 58.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price target on shares of Adeia in a report on Tuesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Adeia in a report on Thursday, June 20th.

Adeia Company 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.