Martingale Asset Management L P Raises Position in Adeia Inc. (NASDAQ:ADEA)

Martingale Asset Management L P grew its position in shares of Adeia Inc. (NASDAQ:ADEA) by 49.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 56,321 shares of the company’s stock after acquiring an additional 18,652 shares during the period. Martingale Asset Management L P owned about 0.05% of Adeia worth $671,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADEA. Innealta Capital LLC purchased a new stake in Adeia in the second quarter worth $47,000. Algert Global LLC purchased a new stake in shares of Adeia in the 2nd quarter worth about $122,000. Seizert Capital Partners LLC bought a new position in shares of Adeia in the 3rd quarter worth about $197,000. SG Americas Securities LLC bought a new position in shares of Adeia in the 2nd quarter worth about $227,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Adeia during the 3rd quarter valued at about $253,000. Institutional investors own 97.36% of the company’s stock.

Adeia Price Performance

ADEA opened at $12.51 on Tuesday. The firm has a market cap of $1.37 billion, a PE ratio of 34.75 and a beta of 1.44. The stock has a 50-day moving average price of $12.11 and a 200-day moving average price of $11.73. Adeia Inc. has a 1 year low of $9.40 and a 1 year high of $14.24. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.42 and a quick ratio of 3.42.

Adeia Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.60%. Adeia’s dividend payout ratio (DPR) is presently 55.56%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADEA. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Adeia in a report on Friday, November 8th. BWS Financial restated a “buy” rating and issued a $16.00 price target on shares of Adeia in a research note on Monday, November 11th.

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.