Mutual of America Capital Management LLC Has $5.72 Million Stock Position in Adeia Inc. (NASDAQ:ADEA)

Mutual of America Capital Management LLC reduced its stake in shares of Adeia Inc. (NASDAQ:ADEA) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 461,450 shares of the company’s stock after selling 7,558 shares during the period. Mutual of America Capital Management LLC owned about 0.43% of Adeia worth $5,717,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADEA. Royce & Associates LP increased its holdings in Adeia by 22.6% during the 1st quarter. Royce & Associates LP now owns 1,052,203 shares of the company’s stock worth $9,323,000 after purchasing an additional 194,187 shares in the last quarter. Swiss National Bank bought a new stake in Adeia during the 1st quarter worth approximately $2,009,000. Credit Suisse AG bought a new stake in Adeia during the 1st quarter worth approximately $790,000. Citigroup Inc. bought a new stake in Adeia during the 1st quarter worth approximately $557,000. Finally, Rhumbline Advisers bought a new stake in Adeia during the 1st quarter worth approximately $3,075,000. 97.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities assumed coverage on Adeia in a report on Friday, February 23rd. They set a “buy” rating and a $15.00 price objective for the company.

Adeia Stock Performance

ADEA stock opened at $10.20 on Friday. The firm has a market cap of $1.11 billion, a PE ratio of 17.29 and a beta of 1.43. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average of $11.33 and a 200-day moving average of $10.68. Adeia Inc. has a 12-month low of $7.12 and a 12-month high of $13.39.

Adeia (NASDAQ:ADEA) last released its earnings results on Tuesday, February 20th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $86.87 million during 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%. As a group, sell-side analysts expect that Adeia Inc. will post 1.18 earnings per share for the current year.

Adeia Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, March 11th. Adeia’s dividend payout ratio (DPR) is 33.90%.

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.