Saxon Interests Inc. Takes $183,000 Position in Adeia Inc. (NASDAQ:ADEA)

Saxon Interests Inc. acquired a new position in Adeia Inc. (NASDAQ:ADEA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,753 shares of the company’s stock, valued at approximately $183,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in shares of Adeia by 35.4% in the fourth quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after buying an additional 903,568 shares during the last quarter. Raymond James & Associates lifted its position in Adeia by 10.9% during the 4th 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 last quarter. TSP Capital Management Group LLC boosted its holdings in Adeia by 1.2% during the fourth quarter. TSP Capital Management Group LLC now owns 1,016,654 shares of the company’s stock valued at $12,596,000 after acquiring an additional 12,512 shares during the period. Vanguard Group Inc. increased its position in Adeia by 1.7% in the 3rd 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 during the period. Finally, Comerica Bank bought a new stake in Adeia in the 3rd quarter valued at $548,000. Institutional investors and hedge funds own 97.36% of the company’s stock.

Adeia Price Performance

Shares of ADEA stock traded up $0.11 during trading hours on Thursday, hitting $10.92. The company had a trading volume of 573,842 shares, compared to its average volume of 550,271. Adeia Inc. has a 12 month low of $7.12 and a 12 month high of $13.39. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.02 and a current ratio of 2.02. The firm’s fifty day moving average is $11.66 and its 200 day moving average is $10.62. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 18.51 and a beta of 1.43.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $86.87 million for the quarter, compared to analyst estimates of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. On average, sell-side analysts predict that Adeia Inc. will post 1.18 EPS for the current fiscal year.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.83%. The ex-dividend date was Monday, March 11th. Adeia’s dividend payout ratio (DPR) is presently 33.90%.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities began coverage on Adeia in a research note on Friday, February 23rd. They set a “buy” rating and a $15.00 price target on the stock.

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.