Aristides Capital LLC Makes New Investment in Adeia Inc. (NASDAQ:ADEA)

Aristides Capital LLC purchased a new position in Adeia Inc. (NASDAQ:ADEA) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,518 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADEA. Vanguard Group Inc. increased its position in Adeia by 1.7% in the third quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after buying an additional 233,675 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Adeia by 10.9% in the fourth quarter. Raymond James & Associates now owns 62,891 shares of the company’s stock worth $779,000 after acquiring an additional 6,186 shares during the period. Saxon Interests Inc. bought a new position in shares of Adeia in the fourth quarter worth about $183,000. Clear Harbor Asset Management LLC bought a new position in shares of Adeia in the fourth quarter worth about $460,000. Finally, Highlander Capital Management LLC boosted its stake in shares of Adeia by 267.3% in the fourth quarter. Highlander Capital Management LLC now owns 2,086 shares of the company’s stock worth $26,000 after acquiring an additional 1,518 shares during the period. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BWS Financial reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research note on Tuesday, July 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Adeia in a research note on Thursday, June 20th.

Adeia Price Performance

Adeia stock traded up $0.11 during midday trading on Friday, reaching $11.56. 733,496 shares of the stock traded hands, compared to its average volume of 412,947. The stock’s fifty day moving average is $11.39 and its 200-day moving average is $11.27. Adeia Inc. has a 12 month low of $8.11 and a 12 month high of $13.39. The stock has a market cap of $1.25 billion, a P/E ratio of 34.00 and a beta of 1.47. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.46.

Adeia (NASDAQ:ADEA) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $83.41 million during the quarter, compared to analyst estimates of $83.55 million. Adeia had a return on equity of 33.89% and a net margin of 11.06%. As a group, equities research analysts anticipate that Adeia Inc. will post 1.2 EPS for the current year.

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.