Zurcher Kantonalbank Zurich Cantonalbank Has $358,000 Position in Adeia Inc. (NASDAQ:ADEA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Adeia Inc. (NASDAQ:ADEA) by 115.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,931 shares of the company’s stock after buying an additional 15,519 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Adeia were worth $358,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Adeia by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after purchasing an additional 233,675 shares during the last quarter. Rubric Capital Management LP lifted its stake in shares of Adeia by 1.0% in the third quarter. Rubric Capital Management LP now owns 4,640,009 shares of the company’s stock worth $49,555,000 after acquiring an additional 47,448 shares during the period. 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 acquiring an additional 903,568 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Adeia by 4.2% in the third quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company’s stock valued at $26,079,000 after acquiring an additional 97,792 shares during the last quarter. Finally, LSV Asset Management increased its position in Adeia by 36.4% during the 3rd quarter. LSV Asset Management now owns 1,700,001 shares of the company’s stock valued at $18,156,000 after purchasing an additional 453,601 shares during the period. 97.36% of the stock is currently owned by institutional investors and hedge funds.

Adeia Stock Down 0.8 %

Adeia stock opened at $9.93 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 16.83 and a beta of 1.43. The firm’s fifty day moving average price is $10.67 and its two-hundred day moving average price is $10.75. Adeia Inc. has a 1-year low of $7.12 and a 1-year high of $13.39. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.46.

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

Adeia Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Tuesday, March 12th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $0.20 annualized dividend and a dividend yield of 2.01%. Adeia’s dividend payout ratio is currently 33.90%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADEA shares. Rosenblatt Securities assumed coverage on Adeia in a research report on Friday, February 23rd. They issued a “buy” rating and a $15.00 price objective for the company. BWS Financial reiterated a “buy” rating and issued a $16.00 target price on shares of Adeia in a report on Friday, April 19th.

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.