Hotchkis & Wiley Capital Management LLC Takes Position in Adeia Inc. (NASDAQ:ADEA)

Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Adeia Inc. (NASDAQ:ADEA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 706,320 shares of the company’s stock, valued at approximately $8,412,000.

Several other institutional investors also recently made changes to their positions in ADEA. Harvey Partners LLC lifted its holdings in shares of Adeia by 5.8% during the 3rd quarter. Harvey Partners LLC now owns 3,052,000 shares of the company’s stock valued at $36,349,000 after acquiring an additional 168,000 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of Adeia by 49.5% during the 3rd quarter. Martingale Asset Management L P now owns 56,321 shares of the company’s stock valued at $671,000 after acquiring an additional 18,652 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Adeia during the 3rd quarter valued at $253,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Adeia by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 965,423 shares of the company’s stock valued at $11,498,000 after acquiring an additional 33,845 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Adeia by 320.5% during the 3rd quarter. Intech Investment Management LLC now owns 128,333 shares of the company’s stock valued at $1,528,000 after acquiring an additional 97,815 shares in the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Adeia Stock Performance

Shares of ADEA stock opened at $13.49 on Thursday. Adeia Inc. has a 12 month low of $9.40 and a 12 month 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. The firm has a market capitalization of $1.47 billion, a P/E ratio of 37.47 and a beta of 1.42. The company’s fifty day moving average price is $12.16 and its two-hundred day moving average price is $11.75.

Adeia Announces Dividend

The company also recently disclosed 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 of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.48%. Adeia’s dividend payout ratio is currently 55.56%.

Wall Street Analysts Forecast Growth

ADEA has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $15.00 target price on shares of Adeia in a report on Friday, November 8th. BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a report on Wednesday.

Adeia Company 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.