Foundry Partners LLC Acquires 30,555 Shares of Adeia Inc. (NASDAQ:ADEA)

Foundry Partners LLC raised its position in Adeia Inc. (NASDAQ:ADEA) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606,976 shares of the company’s stock after buying an additional 30,555 shares during the quarter. Foundry Partners LLC’s holdings in Adeia were worth $6,789,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ADEA. Victory Capital Management Inc. raised its stake in shares of Adeia by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 151,132 shares of the company’s stock valued at $1,873,000 after buying an additional 20,622 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Adeia by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 869,421 shares of the company’s stock valued at $10,772,000 after buying an additional 26,609 shares during the period. Boston Partners raised its stake in shares of Adeia by 173.0% in the fourth quarter. Boston Partners now owns 1,970,774 shares of the company’s stock valued at $24,239,000 after buying an additional 1,248,949 shares during the period. Norges Bank bought a new stake in shares of Adeia in the fourth quarter valued at $9,198,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Adeia by 24.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,269 shares of the company’s stock valued at $276,000 after buying an additional 4,315 shares during the period. 97.36% of the stock is currently owned by institutional investors.

Adeia Stock Performance

Shares of NASDAQ:ADEA traded down $0.20 during midday trading on Friday, reaching $11.70. 17,118 shares of the company traded hands, compared to its average volume of 493,001. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 1.42. Adeia Inc. has a 12 month low of $8.11 and a 12 month high of $13.39. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 35.00 and a beta of 1.46. The firm’s fifty day moving average price is $11.49 and its two-hundred day moving average price is $11.17.

Adeia (NASDAQ:ADEA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Adeia had a return on equity of 33.28% and a net margin of 12.87%. The company had revenue of $87.35 million for the quarter, compared to analyst estimates of $83.74 million. On average, equities analysts expect that Adeia Inc. will post 1.18 earnings per share for the current year.

Adeia Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, August 27th. Adeia’s payout ratio is 58.83%.

Analyst Ratings Changes

Several brokerages have issued reports on ADEA. BWS Financial restated a “buy” rating and issued a $16.00 target price on shares of Adeia in a research note on Thursday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $15.00 price objective on shares of Adeia in a research note on Thursday, June 20th.

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.